Chimpy’s Economy, cont. — Flat sales are the new black
Well, the Black Friday numbers are starting to trickle in, and guess what? Everyone’s broke!
American consumers shopped more for bargains at the start of the U.S. holiday season and spent significantly less than a year ago, according to early data released on Sunday.
Consumers said they will have spent nearly 8 percent less on average, or about $343 per person, over the weekend that includes Thanksgiving Day, Black Friday and runs through Sunday, according to the National Retail Federation… The NRF has forecast a 1 percent decline in holiday sales this year, which would mark an unprecedented drop for two straight years after a global financial crisis erupted in 2008.
This might get Li’l Timmy Geithner’s attention if the big bidness starts to howl, but probably instead of endorsing a jobs program, he’ll start working on a new bail-out for the banks because people are not using credit cards.
We’re so screwed.
Obama better do something soon or this becomes his “great recession.” I hear talk about a job stimulus program, but I won’t believe it until I see it. the sick thing is that spending money on infrastructure helps everyone. So why not do it? Oh wait, if people are employed, the workers might ask for more money. Can’t have that. Someone wake me up in 2012, ‘kay?