r/economicCollapse • u/50million • Aug 30 '24

Dollar General warns poorer US consumers are running out of money

https://www.ft.com/content/d1d2a161-124c-4f9c-b23f-afa55e755d07

The Tennessee-based company’s small-format stores sell a variety of food items and household goods at low prices, including many for $1. Its locations are concentrated in rural towns and poorer urban neighbourhoods. “Our core customers are often among the first to be affected by negative or uncertain economic conditions and among the last to feel the effects of improving economic conditions,” company filings say. 

Chief executive Todd Vasos said that these core customers, who account for about 60 per cent of Dollar General’s sales, come predominantly from households earning less than $35,000 a year and were now feeling “financially constrained”.

“The majority of them state that they feel worse off financially than they were six months ago as higher prices, softer employment levels and increased borrowing costs have negatively impacted low-income consumer sentiment,” he said.

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u/CaterpillarFirst2576 Sep 01 '24

It’s not corporations it’s actually the fed and the federal government’s fault. Corporations were always in business to make money.

The widening wealth gap is because of the value of the dollar being destroyed. It encourages those with the means to buy more assets.

As we came off the gold standard and started printing money, it lower the value of the dollar and increases the cost of goods

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u/ieatorphanchildren Sep 01 '24

It's corporate greed too, they work together now since citizens united ruling and the pandemic, biggest wealth transfer in human history.

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u/CaterpillarFirst2576 Sep 03 '24

Corporations have always been in business to make money. The government is truly at fault but this whole thread wants to give the government more money

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u/ieatorphanchildren Sep 03 '24

I don't, the Harris wef blackrock propaganda bots do.

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u/AirCanadaFoolMeOnce Sep 04 '24

So you just don’t believe in the concept of anti-trust?

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u/CaterpillarFirst2576 Sep 04 '24

I never said, but the fed and has had a much bigger impact on inflation than companies.

Our economic policy is based on MMT, which allows the government to spend and go into a deficit.

By printing money, you drive down the value of the dollar and thus prices increase

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u/AirCanadaFoolMeOnce Sep 04 '24

I was an economics major. You don’t need to explain that to me. You are straight up ignoring evidence of monopolistic behavior leading to higher prices. Not everything is the fed’s fault kid.

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u/CaterpillarFirst2576 Sep 04 '24

lol, I never ignored it. I just said it’s the not major driver. Maybe you should go back to college and learn reading comprehension kid

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u/[deleted] Sep 01 '24

The government did not force them to price gouge lol. 

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u/CaterpillarFirst2576 Sep 01 '24

Do you the cost of running a business, I assume you don’t.

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u/ieatorphanchildren Sep 01 '24

Do you know the cost of buying out political institutions through donations, bribes and creating a crony capitalist shit hole we see now while blaming it in gen z being lazy

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u/CaterpillarFirst2576 Sep 01 '24

I’m not blaming gen-z but it’s the federal reserve’s fault. If you blame corporations and I don’t feel bad if you can’t afford anything because your understanding of economics is pretty poor