Red Friday is More Like It

Well the results are in and they aren't so good. It looks like people spent even less this year during the Thanksgiving weekend than last year's dismal numbers. Bummer. You know they call it Black Friday because most companies used to run losses all year long and then finally on Thanksgiving weekend they would get such a boost in sales that they would turn a profit. Or be "in the black". Nowadays things are different. They look to still be "in the red".

 

So, hopefully the administration in Washington is looking at this long and hard. My guess is many aren't however. They are focused on the big healthcare battle. I hope someone in the Capitol makes a few comments on what happens if the stated unemployment rate of 10+% jumps to 15% or worse, as it pertains to healthcare costs. Cause that's where we are headed if things aren't done to make small, medium, and big companies want to hire people. People are spending less cause they are worried about their employment situation and you cant blame them. A 50% discount on a flat screen TV clearly ain't enough to make them put down the plastic. Keep in mind too that the banks have cut back people's credit card limits, so even if they wanted to spend, they can't. I think prices go lower in the coming weeks. And the week after Christmas and in January? As they like to say in "Brook-ahhh-lean"............fuuhgeddaboutit..

Comments

[richie]

Big E,
As always good to hear from you! That sounds like a splendid Holiday idea. And instead of crap that breaks or gets thrown out when you buy "stuff", you'll have a trip that none of you will ever forget. And you are doing a fine job doing your part to prop up the economy. I like it. Enjoy the trip.
As far as where we are headed,just have a nice look at the State of New York. A huge deficit and lawmakers who dont want to cut spending. What does that mean? They will RAISE taxes. Again! That will be in addition to the fine US Government who will be RAISING taxes. Then the brilliant politicans will get to see what happens when you do that. Your tax base DROPS. And people are willing to make LESS money to pay LESS taxes. Soon you have everybody on the dole like Russia 1950. Good times.

[Big E in NYC]

Just over 25% of purchases were made with credit. Was that the number 2 years ago? Thought not.
I don't like where we're headed. Taxing and forced health care is going to ruin the businesses that HIRE the PEOPLE so they can PAY TAXES!
RB, here's what I did for my family for Xmas....shelled out 10k for a Xmas to New years cruise......not going to wrap gifts, stand in lines, feel the cold or all the other Holiday Bullsh*t, I'm not in the mood!