Breitbart Business Digest: Walmart and Target are killing greedy inflation

Of course, the story of inflation does not end with the elimination of excess income due to rising wages and production costs. Consumers respond to rising prices by changing their consumption habits. Walmart talked about customers switching from national brands to private labels like lunch meats. The University of Michigan’s May Preliminary Consumer Sentiment Survey said record numbers of consumers said that right now is not the right time to buy solid ones. This cyclical model is likely to shift consumers’ spending from products to services and reverse the massive change in spending caused by the pandemic.

Target CEO Brian Cornell spoke about the shift in consumption on Wednesday:

In our other three main product categories (Apparel, Home and Hardlines), we saw a sharp slowdown in annual sales trend at the beginning of March, when we started analyzing the year-over-year impact of incentive payments last year.

While we anticipated a post-stimulus slowdown in these categories and expected consumers to continue to shift their spending from products to services, we did not expect the magnitude of this change.

This shift could explain the drop in demand cited in the Empire State Manufacturing Survey released Monday. We’ll see how broad it will be on Thursday, when the Philadelphia Fed releases its production review. Expect a gentle downhill drift. However, the same expectations apply to the New York Fed survey. The unexpected downside in the Philadelphia Fed survey could raise fears of a wider economic collapse and a bigger blow to corporate profits, at least for manufacturers and sellers of goods.

Is it possible for Elon Musk to really turn into red skin? Musk started out as a darling of the left and an icon of the radical green, so he was naturally eager to support the politics of his biggest fans. He began showing signs of alienation during the pandemic when he threatened to move Tesla’s headquarters from California to Texas and defying state officials to resume production.

Today he is one of the main proponents of freedom of expression on the Internet; The depth of this commitment can be questioned, given its historical significance for repressive regimes in China and the Middle East. However, if his position is simply what the US needs, or if he deserves more freedom of expression than any other country and culture, it’s better for those who are constantly trying to push the latest Ministry of Truth on us.

But now he has crossed the line and announced that he will vote – ah! – For the Republicans.

“I voted Democrats in the past because they are the (majority) favor party. But they have become a party of division and hatred, so I can no longer support them and vote Republican. Now watch their dirty campaign against me,” said Musk. tweeted out.

I’ve voted Democrats in the past because they’re the (majority) favor party.

But they have become a party of division and hatred, so I can no longer support them and vote Republican.

Now watch their dirty campaign against me spread… ????

– Elon Musk (@elonmusk) 18 May 2022

Alexandria Ocasio-Cortez is probably considering selling her Tesla today.