Skip to comments.Gallup: No Back-to-School Spending Rush
Posted on 08/11/2009 4:53:19 AM PDT by Oldeconomybuyer
PRINCETON, NJ -- Even as back-to-school started in earnest last week, with numerous states holding their tax-free shopping events, and as consumer confidence hit a new weekly high, Gallup's Consumer Spending measure suggests a tepid consumer response. While this meets general market expectations, it is bad news for the nation's retailers, for whom back-to-school is second in importance only to the Christmas holidays.
Last week's jobs report and the sales success of the "Cash for Clunkers" program have combined with the continued Wall Street rally to boost consumer optimism. However, the fact remains that increased consumer confidence does not seem to be having a significant impact on consumer spending, at least to this point. If this trend continues, Back-to-School may become a major sales bust and the fallout for the nation's retailers may be severe.
(Excerpt) Read more at gallup.com ...
OK, here's how to stimulate Back-to-School spending...
State of NY using stimulus funds to give $150 MILLION to welfare recipients. $200 for each child for back to school spending. The fund will be supplemented by a fund managed by SOROS.
The money will go to those who have dropped off the welfare rolls as well as those who fail to meet the work requirement.
This spending was mandated by the O administration.
I think “back to school” sales of anything but school supplies (I’ve been buying 15-cent spiral notebooks) are badly timed. Who needs winter clothes when it’s 100 degrees? And if you buy them now, they’ll be outgrown by the time it’s cool enough to wear them.
Now there's a big-government spending program I can support!
“Imperial Congress For Life” Bump
I work with kids (middle class). Other than new sneakers, which I’ve been seeing for the past couple of months, not just recently, I haven’t noticed a lot of new clothes. I ask the kids, have they done any shopping and they say no, they’re just going to wear their summer clothes for a while, then when it gets colder, they’ll get some new jeans, etc.
I’ve asked about supplies and most say they have stuff left over from last year and don’t need anything new.
I don’t know if this is indicative of family finances or just that the back to school spending spree is really not all it’s cracked up to be.
Just so long as there is a waiver available for the 0.5% of women those pants actually look good on...
Heck I go there to buy blouses and sweaters.
This is about Back to School Spending for boys and girls. I don't think a Jail-Bait Waiver would be appropriate...thoughtful perhaps...but not appropriate.