Quick summary of the article: The mainstream media and business executives who supported the Royal Idiot are finding it more and more difficult to explain away the miserable economic failure that inevitably results from socialism.
Posted on 11/25/2012 11:18:15 AM PST by Zakeet
Edited on 11/25/2012 1:41:12 PM PST by Admin Moderator. [history]
With all bad news on the tape now having a suitable "explanation", be it a prior president, a tropical storm, the weather being too hot, the weather being too cold, the weather being just right, but never, ever someone actually taking blame for the fact that life is what happens when corporate CEOs (and sovereign presidents) are busy making "priced to perfection" plans. So it is with what is now a confirmed flop of a Black Friday, which according to ShopperTrak saw sales drop by nearly 2% to $11.2 from 2011, which in turn was a 6.6% gain over 2010 (and would be revised to far lower once all the refunds and exchanges to cash took place in the two weeks later). This occurred despite a 3.5% increase in retail foot traffic to 307.7 million store visits. The nominal drop in retail sales also occurred despite a nearly 1% increase in the total US population over last Thanksgiving, and a 2% Y/Y inflation. But fear not: the ad hoc excuse for this "surprising" loss in purchasing power is already handy: it is all Black Thursday's fault, or the latest idiotic attempt by retailers to cannibalize their own future sales by diluting the exclusivity of Black Friday, and which will force all retailers to follow the sovereigns in a race to the bottom, as soon every day will be the equivalent of Black Friday. But at least retailers have another 364 years worth of excuses for the conceivable future to excuse any and all store weakness. Next year: it's all Black Wednesday's fault.
(Excerpt) Read more at zerohedge.com ...
Quick summary of the article: The mainstream media and business executives who supported the Royal Idiot are finding it more and more difficult to explain away the miserable economic failure that inevitably results from socialism.
Black Tuesday’s fault.
How funny. Everyone was saying that Black Friday had the highest sales in history and now this author is saying otherwise. I guess we just need to wait and see what the rest of the season sales are. I know Monday will probably be a huge day for on-line retailers. I guess you can find the opposite said about everything.
While our family may not be representative of other middle class ones, we normally spent close to $15,000 during the entire holiday season in past years which included a week long ski trip, gifts for families, friends, business clients and two house parties. This year is stay at home and total spent will be closer to $500 including food for a Christmas dinner with family and close friends. All the shopping is done, most of it on-line unless I had a great coupon for a small local store, and gifts wrapped. Any energy remaining will be used to bake cookies and try to figure out how my clients and my business can remain profitable in the coming year.
yep.
Maybe it is. But for my business, on-line sales peak on 12/12, which also happens to be the biggest shipping day of the year. The sales curve is rounded on both ends.
"Cyber Monday" simply represents a slight uptick from the previous Monday, while Christmas purchases have been building up for at least a month.
Is what anyone says or reports about Black Friday on Black Friday or during Thanksgiving weekend ever borne out by the actual facts later?
I blame it on Black Tuesday. Nov. 6.
The only place that I’ve seen anyone claiming great sales numbers was Walmart.
When Black Friday sales start Thursday night... yeah, I guess Friday won’t be as busy.
Who’d a thunk it?
COSTELLO: I want to talk about the unemployment rate in America.
ABBOTT: Good Subject. Terrible Times. It’s 7.8%.
COSTELLO: That many people are out of work?
ABBOTT: No, that’s 14.7%.
COSTELLO: You just said 7.8%.
ABBOTT: 7.8% Unemployed.
COSTELLO: Right 7.8% out of work.
ABBOTT: No, that’s 14.7%.
COSTELLO: Okay, so it’s 14.7% unemployed.
ABBOTT: No, that’s 7.8%.
COSTELLO: WAIT A MINUTE. Is it 7.8% or14.7%?
ABBOTT: 7.8% are unemployed. 14.7% are out of work.
COSTELLO: IF you are out of work you are unemployed.
ABBOTT: No, Obama said you can’t count the “Out of Work” as the unemployed.
You have to look for work to be unemployed.
COSTELLO: BUT THEY ARE OUT OF WORK!!!
ABBOTT: No, you miss his point.
COSTELLO: What point?
ABBOTT: Someone who doesn’t look for work can’t be counted with those who
look for work. It wouldn’t be fair.
COSTELLO: To whom?
ABBOTT: The unemployed.
COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work. Those who are out
of work gave up looking and if you give up, you are no longer in the ranks
of the unemployed.
COSTELLO: So if you’re off the unemployment roles that would count as less
unemployment?
ABBOTT: Unemployment would go down. Absolutely!
Readig this article one would think the economy is doing great! Some excerpts below....virtually nothing is negative! Unbelievable!
Black Friday shoppers may have done more browsing than buying
http://www.baltimoresun.com/business/bs-md-holiday-shopping-1126-20121125,0,5358898.story
In-store sales on Thursday increased 71 percent, according to Chase Paymentech, a top credit-card processor.
Over the last three years, Americans have paid down their debts to the tune of $636 billion. Gasoline, electric and natural gas prices are decreasing.
Consumer confidence is on the rise and those surveyed this month by the Credit Union National Association and the Consumer Federation of America said they are more willing to open their wallets. Twelve percent of those polled said they expected to spend more, the highest level since 2007; 38 percent said they would spend less.
Yes, Erkelbama, you did do that
The way it was going at our Walmart on “black Thursday” night, I’m surprised that they had any reason to open on Friday. There wasn’t anything left.
Another example of: who are ou going to believe? The media or your own lying eyes?
I worked Friday so I didn’t see anything. However, on Saturday I went out and could not believe that I found a parking space relatively close to the mall. That has never happened before during this time of the year. Normally I have to pack a lunch to go to the mall because of how far away I am parked. lol.
"and now...the Pullitzer for best line ever to appear in an on-line report on the economy..."
lol
I’m not sure that’s the case. At first, it was reported that Walmart had a record number of SHOPPERS. That somehow then got reported as record SALES.
From my limited observations, the Christmas shopping seems less than a year ago, possibly only because it’s started earlier than usual.
It has been reported that people are running up more Obama card... er, credit card... debt so far this season.
When consumers catch on that prices have been raised, not lowered, on “Black Friday” merchandise, expect this gimmick to lose its charm.
Other than three or four big screen TVs or iPads or computers used as bait, stores have few legitimate bargains. After hiring extra sales people and security guards for the mobs of “Looky-lous”, retailers will probably have lost money.
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