A part of the christmhas spirit has always been the inisiation to the frenzy of christmhas shoping the day after Thanksgiving. Millions of people hit the steets at wee hours of the morning to get those good holiday sales, I know I joined in. By doing so I only imagined how much money must be generated, after all the three hour lines should bee a sign of prosperity. It actually is and this year sales were up by by 19% from last year according to Breaking News at the Bangkok Post
How ever in spite of this contribution from the american people who spent an average of $316.00 the ecconomy is on a spiral down ward. The stock market continies to go down. The afected companies such as Ford Motor, Blue Chip and Google have drooped in the market. Part of this is dur to the Federal Reserve has raised interest rates to avoid inflation. The dollar has began to loose value, although it has been done for I good reason I can't help but feel disapointed. At a time when the consumer is at an all time high the numbers aren't reflecting it. The U.S. government is supposed to revise the third-quarter a slight growth. We the consumers of America will just have to wait and see the out come of this holiday season untill further notice.
1 comment:
"the stock market continues to go down"-- what the heck are you talking about? S&P up 12% this year, up over 60% past 3 years.... not counting dividends. Unemployment is at record lows. Inflation practically nonexistant.
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