Friday, November 25, 2005
Black Friday: Consumerism Unleashed
Today is Black Friday. According to Wikipedia "Black Friday, the day after Thanksgiving in the United States, is historically one of the busiest retail shopping days of the year. Many consider it the "official" beginning to the holiday season. ... Most retailers will open very early. "
The above picture shows crazed shoppers fighting in a Walmart story in Orlando, Fl [ a bubble city] . CNN has this story. Minimum credit card payments are about to rise.
Will this be a solid holiday retail season for retailers? Will consumers refinance again to fuel one more materialistic binge? Will fears of a housing bubble, high home heating costs and new bankruptcy laws curtail spending? Will consumers continue to spend more then they earn? How much debt will be raked up on those credit cards?
Posted by David at 2:06 PM