In all truth, I imagine a lot of corporations are going to suddenly take a “principled stand” to discontinue charitable giving. The economic reality is that just about everyone is now anticipating a huge downturn, so charity just doesn’t cut it anymore.
And some of the first to get hit in a major downturn will be the electronics industry. Many of them are hoping against home to get a Government Motors deal.
This years’ black Friday is going to be very interesting indeed. I anticipate that luxury goods are going to take a huge hit, with very scant sales. There will be pretty average sales of durable goods. Best sales will be of very utilitarian items.
This will be a good gauge of the public mood.
“This will be a good gauge of public mood.”
It’ll take a while before the Obama “chickensssss” come home to roost. This year, it’s cakes and circuses” all round . . with plenty of Monopoly money for hair and nail salons and what have you. For now, ol’ Baracka Claus is sitting in the big golden chair with all the little kiddies on his skinny Santa lap, asking each and every one of them what they want for “X(Christ not allowed)-mas”.