I read about “record spending” for Black Friday/Cyber Monday season, and the stock markets have gone spiraling upward this past month. Seems counter to the article.
Did you read the part of the article that says, “credit card debt has soared past the $1 trillion mark, reaching unprecedented levels”??? That’s why Black Friday was so “successful “.
With inflation, spending is way up. People are buying less bread but are paying more for it.
Both this article and Biden’s hollow boasting can be true.
EC
“I read about “record spending” for Black Friday/Cyber Monday season“
Me too. Except I remember the same scenario reported during the Obama years. People shop very early, at discount, then the shopping goes very flat. People are looking to stretch their Christmas money, not spend more. I find it an ominous sign, not good.