I just want to throw some numbers out there to put Covid-19 crisis into perspective.
Roughly 40 million (out of 330 million) Americans are on “Food Stamps” or SNAP.
Source: https://en.m.wikipedia.org/wiki/Supp...stance_Program
https://www.usatoday.com/story/money...amps/37017367/
https://www.worldometers.info/world-...us-population/
Food stamps is roughly 4% of WalmartsÂ’ sales:
“ And SNAP customers are important to big firms’ bottom lines. Walmart derives about 4 percent of its U.S. sales from food stamp purchases, according to UBS Analyst Michael Lasser – though Walmart has neither confirmed nor denied that figure.”
Source: https://www.pymnts.com/news/retail/2...amps-snap/amp/
The general rule is: If you donÂ’t know the answer, choose the most likely outcome or answer.
So if the question is how many Americans on Food Stamps are buying food on the 1st to the 4th of the month, you now have numbers to work with to see this train wreck coming.
There are two sides to the equation: people with money to buy food and food on the shelves in supermarkets. The US govÂ’t is pretty good at getting welfare checks out on the 1st to the 4th so that side of the equation is pretty solid. The wild card or big unknown is the food on the shelves part of the equation.
We “all” can see this coming.