Organized crime attacks retail stores
Is Greed or Poverty to blame?
There is no commentary today since the authors of Only The Little People Pay newsletter are taking this Thanksgiving weekend off. We’ll see you next Saturday.
In the meantime, here is something we’re wondering about and would like your thoughts:
Do these headlines reflect greed or poverty or both? What is going on here? Is there any connection between these occurrences and the wealth and income inequality in this country?
Provocative Question: Let us know the response
This, from Alexander Auerbach:
Sun, Nov 28, 6:11 PM
Put aside the motivation of the flash mobs who smashed display cases, terrified shoppers and store clerks, and assaulted security guards earning minimum wage. Perhaps they truly were impoverished, and used their last few dollars to buy hammers and organize a fleet of late-model getaway cars.
Look at where their loot will go. The items taken from Louis Vuitton and Nordstrom won’t end up warming the homeless. They will be sold to middle-income buyers who possess the requisite cash, label fixation and ethical flexibility. Unlike assets, greed and self-interest are distributed equitably among all income categories.
Alex Auerbach