Walmart, the company that brought you a CEO who makes 1,000 times what the average worker there makes, the company whose Walton heirs hoard a mind-boggling fortune as many workers rely on taxpayer subsidies, the company that employs more workers than any other private employer yet can’t pay a living wage, yes, that Walmart, just released “outstanding numbers,” according to President Donald Trump.
Consequently, Trump tweets, the “country is doing great!”
Walmart, a great indicator as to how the U.S. is doing, just released outstanding numbers. Our Country, unlike others, is doing great! Don’t let the Fake News convince you otherwise.
— Donald J. Trump (@realDonaldTrump) August 15, 2019
Trump’s is apparently so desperate for good financial news this week that he is putting the spotlight on Walmart’s quarterly numbers.
The problem, however, is that Walmart is rarely seen as an indicator of America’s success. Many of its items are made in China. It has an ugly history of union-busting. It destroys local businesses. In sum, Walmart is bad for workers. Its success often comes at the expense of working Americans. Walmart’s financial news is good for stockholders, the obscenely paid CEO, and the even-more obscenely paid Walton heirs. And pretty much no one else.
But, then again, when did Trump really care about anyone else other than the billionaire class?