Black Friday

So, retailers did "OK" on Black Friday. Consumers spent.

I have to admit, I still have a problem with blaming economic ups & downs on consumers. The glitch in the economy comes from an entirely different direction. Consumers are the last stop on the block. If an ordinary, average-income, average-type-job American doesn't feel as if his/her finances are secure, they will cut back on spending, perhaps right back to food, clothing, shelter. Now, what makes Joe/Jane Average feel financially secure? A job. A job that pays enough to cover their needs, plus a bit extra for the future. A job that's gonna be there. A job that holds the promise of advancement for good work.

So, you want Mr/Ms Average to spend? Provide them with jobs.

I read a sci-fi story, once-upon-a-time, where the majority of people were on the dole. Their job was to buy, Buy, BUY. The poor were charged with buying up the produce of the automated factories, to keep the economy going.

Sound familiar?

Election '08 -- a Hai-Ku

Those you despised
Have manifested their Power.
Why are you afraid?

Upside-down Economics

This kind of stuff drives me nuts. I saw something similar, blaming "consumers" for the recession during/after 9/11.

The "consumers" are the ones losing their jobs. They're not getting golden parachutes like the super-execs. The "consumers" are out of work, looking for jobs that hundreds or thousands of other "consumers" are competing for. The "consumers" don't have special "I brokered the deal that ..." to pepper their resumes with. They cut back, shop the discount places, 2nd-hand shops, take their kids out of sports programs, see the doctor less -- because they can't afford it.

Who are these economic experts who blame lack of consumer spending for the economy's crisis? Bupkus! Put people back to work, at living wage jobs, and they'll spend money again. Quit making stupid pie-in-the-sky loans & deals that a 1st year Business student could tell you was a bad idea. Until fiscal responsibility at the highest levels returns, this is just a way of distracting from the real problems.

Who would blame citizens for prudently handling their finances in today's circumstances? What are you, stoopid?

My soapbox is now empty.

From http://news.yahoo.com/s/nm/20081106/bs_nm/us_financial6_191


Europe cuts rates; U.S. consumers hit by crisis

By Daniel Trotta NEW YORK (Reuters)

........

"The U.S. consumer historically has been counted on to rescue the economy but the International Council of Shopping Centers called the retail sales environment "simply awful" and said the October results were the worst it had seen in 35 years." .......