The 99% Go Shopping!
As the debate rages on about the state of the American economy, one thing is for certain, it hasn’t diminished American’s desire for a good deal. We just had Black Friday, and by all accounts, sales were good. When Cyber Monday started in 2006, it made headway into increasing consumer spending as we head into the holiday season. By all accounts, sales from Cyber Monday (one day of online shopping) is expected to net $1.3 Billion in sales.
This author for one plans to take advantage of the buying frenzy come Monday! Savvy shoppers know that many items will sell at even better discounts than they did on Black Friday. American consumers are treading with caution. Many are shopping with cash or have a budget of how much they are willing to spend. Of course, this is a reaction to the drunk we were all on when we were using our homes as ATM machines before the real estate bubble burst.
The economy seems to be turning around, people are a little more optimistic. Consumers are still shopping and will not be denied a good Christmas season. So, the question that should be on everyone’s mind is, if the economy is so bad, why are we up all night waiting for stores to open? One woman in the suburbs of Los Angeles pepper-sprayed fellow shoppers so she could be attended to first. How do you juxtapose the media’s gloom and doom on the economy and shoppers stampeding stores to get the best deals?
Obviously, if the economy makes a recovery, perceived or otherwise, this helps President Obama with his re-election; the Republican’s are painfully aware of this. Given the flubs,gaffes and down right lack of knowledge displayed by most of the Republican field, this really is the best indication that President Obama will win re-election.
The GOP is still trying to find the “magic candidate” that can beat President Obama. So far, the Republican debates have been lampooned by late night comedians and it’s standard fare on Saturday Night Live. The only thing that will be missed when the campaign is over and Obama is re-elected is the material from the debates that late night comedians can use.
The Republicans are aware that if the economy recovers, they really have no talking points. President Obama has done well on the foreign policy front; much better than most his predecessors. The election is less than one year away and the GOP is in trouble and they know it.
The area on most American’s minds is; JOBS! If President Obama can make headway in that area, he’s a shoe in for re-election. As consumer spending increases, showing more confidence in the economy, this will hopefully get banks to start lending money again firing up an economic recovery.
While most of have curtailed extravagant and excessive spending, we will still enjoy the fruits of our labor by buying the gadgets and products on our Christmas’ lists. Retail sales are expected to come in at 10%, up from 8% last year. Not a barn burner, however it is an improvement. This writer includes himself as part of the 99%, and just like everyone else, I’ll be taking advantage of Cyber Monday as well!