Black Friday and America’s New Economic Reality
by The New LedgerSo, how was Black Friday for you? For retailers, it was a time to go looking for small reasons for optimism, but the comparison to 2008 is essentially flat. How will the markets react, and what’s the deal with Dubai? We’ll discuss it all on the latest edition of Coffee and Markets, a daily podcast from The New Ledger on politics, policy and the marketplace with Francis Cianfrocca, brought to you by BigGovernment.com.
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Related Links:
LATimes: Black Friday Recap
AP: Wall Street’s Big Week
Ferguson: Obama’s Indecision on Economy Hurting America
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289 Comments
Never have been a big shopper on Black Friday… crowds are too big. But I did get up early to buy a couple items this year. Spent less than $100, maybe $200 over the 4 day weekend. I hate to spend a lot at one time, so we usually spread Christmas purchases over a few weeks. Plus our list is not well defined, so we are looking for the right stuff at the right price. Where did we shop… Staples, Kohl's, JC Penney, Target. Bought a couple things online too.
Another nail in the public intellectual and economic coffin of the Obama crapistation. When on the rise, retail PERFORMANCE is the ULTIMATE measure of a sound and healthy public economy. When flat or falling it's a signal of economic stimulus failure. Another simple measure… stop into your local paint retailer and ask how WHITE PAINT IS SELLING ? If sales are high then homebuilders and remodelers are busy. Same with auto repair shops…. if they are busy new car sales are flat ! Simplified economics 101 !
I am glad you avoided BEST BUY. Over the Thanksgiving Holiday they advertised in their flyer that they were honoring the Muslims with a celebratory greeting. No mention of the AMERICAN tradition of Thanksgiving. That sealed any further purchasing for me at Best Buy ever.
What is the Obama administration's recipe to get people back at work? Cap and trade, healthcare legislation and punitive taxation. Wow, now that is brilliant strategy. As surely as the sun will rise, the libs will never understand economics.
Or reality
"For retailers, it was a time to go looking for small reasons for optimism, but the comparison to 2008 is essentially flat."
That is a misleading comparison. With the devaluation in the dollar, the number year to year is closer to 2009 being 5% off from last year. Figures lie, and liars figure……….
Does that include online numbers? While I concur with you on the in-store sales, it looks to me as if online makes it flat. If I'm wrong, feel free to share.
Lowes was kinda empty when i went there fri. didnt think it was a good sign
No. I was not referring to online. I haven't looked at them.
As we see banks still not making loans because of those pesky toxic assets still on their books, we conservatives ask…….Why doesn''t the public see that the libs attempts at social engineering has done tremendous harm to our economy? The sad reality is that Dodd, Frank et al are still trying, which makes them ever more dangerous. Inflation, mortgage defaults etc. are increasing but the cheerleading media keep repeating we are on the road to recovery, as if repeating it over and over will make it so.
I shopped mostly online to avoid the crowds. It's not worth fighting the traffic and getting run over by people with the carts just to get to the stuff that's on sale. Even if I have to pay alittle bit more to shop online, so be it.
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