Retailers' holiday sales plummet

I'm pretty much in agreement w/ rockpuck's thoughts. Any results currently in are very preliminary. I'm interested in seeing just how bad it was, any games w/ numbers that will be played, and how it will be spun. There is definitely some of the "badness" already priced in to equities and credit markets though.

I work in retail, cellphones in particular, and while people are currently being as stupid as ever in how they spend on that item, the accessories ain't moving this year. People are very tight with their money. I work in a busy store and the lines can sometime last a while, you wouldn't believe some of the conversations I've heard relating to the economy. It probably deserves it's own thread here soon.

I see this as more PROPAGANDA. I did plenty of Christmas shopping, everywhere I went it was just as jam packed as ever before, granted the lines were herrendous as peopl had to put back more than they arrived at the registers with. This is impart because most people went not with credit cards but with the amount of cash they were able to spend.

I also noted that many of the stores had marked up the prices significantly compared to past years (I am an avid bargain hunter) and then marked them down openly to 50-70%.

So everyone get out and help the economy, Pfft... Help China and the gross over stocking of crap product.

One more thing, this is an opportunity for people to simply have an excuse to be cheap. The bills are paid, and I did not spend any less than before, and I managed to get something for everyone on my list, and that is HUGE.

[edit on 27-12-2008 by antar]

Antar I agree with you to a point but I do not see this all as propaganda. My family too spent about the same as last year but we have admitted to ourselves it may have been too much. Sure people will go to the malls and the stores but I believe a majority may just be window shopping. They may not actually be purchasing as much or if at all. Stores are in trouble too, you can not deny that.

We see unemployment rising faster than ever and there is only one reason for that, a drop in sales leading to a lack of profit, therefore causing companies to cut back, which then leads to more of a drop in sales. It is a cycle that we have entered, it must be exited for all of our sakes...

[edit on 31-12-2008 by LoneInDarkness]

The reason there is moaning in groaning due to not having growth is due to usury.

There must be growth to keep up with the compound interest on loans owed.

No growth = default on debts.

Solution is no more usury.