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According to Gallup, Thanksgiving week spending plunged 25% from a year ago, and couldn't even...
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Tuesday, December 1, 2009, 6:05 PM ETAccording to Gallup, Thanksgiving week spending plunged 25% from a year ago, and couldn't even muster a rise from the week before. "There's no indication in Gallup's spending data during recent weeks, or so far this year, that this year's spending will do anything but trail last year's depressed spending levels during the holidays," firm says.
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This news story has 12 comments:
On Dec 01 06:39 PM nightfly wrote:
> wont' this be viewed as a positive? I mean everything has a silver
> lining. In this case it must be that that means folks will be saving
> more and be reducing debt. Rally on...
> The problem is that neither the government nor the banks want regular folks to be debt free. See people in debt are easy to keep in fear and easy to control. It is the opium of the masses (not religion). Debtor = slave <
Exactly right Robespierre. If people aren't in debt, then they aren't spending. Not only are they not spending, they represent a whole lot of healthy households who have genuine borrowing power... borrowing power that must be tapped and exploited.
By convincing the masses to borrow money, the bankers get the double whammy of spurring on the economy and at the same time causing an incredible boost to money creation. Money is borrowed into existence thanks to the fractional reserve banking system, and if nobody is borrowing or the banks aren't lending (as is the case right now), then money creation and velocity of money dry up in short order.
If the banksters can keep the peons in debt, use their borrowing power to borrow the country to prosperity, borrow themselves into servitude, they end up owning and controlling the frightened masses as slaves. It's a win/win/win situation for the greedy bankers and a spiral of pain for the consumer. There are good common sense, sound ways to build a country... but on the backs of slaves isn't one of them. That kind of economic progress is absolutely doomed to failure eventually, and the dirty bankers know it full well. They don't care though as long as their pockets get lined with gold in the process.
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This is just more attention-grabbing fodder. Makes wonderful headlines, but isn't attached to real data.
In contrast, the retail data recently reported is from cash-register and computer receipts. That's data.
Take your pick.
None are more hopelessly enslaved than those who falsely believe they are free.
Johann Wolfgang von Goethe
On Dec 01 08:02 PM Northern Dancer wrote:
> On Dec 01 07:45 PM Robespierre wrote:
So...to answer your question, YES, I do think spending is down...in accordance with the "real data".
I made my pick and I choose reality, not fudged, agenda contaminated and misrepresented government data.
On Dec 01 08:45 PM Tack wrote:
> This Gallup report isn't data, it's "self-reported" opinions, taken
> from consumer sampling. Does anybody in their right mind really think
> spending is down 25% from last year?
>
> This is just more attention-grabbing fodder. Makes wonderful headlines,
> but isn't attached to real data.
>
> In contrast, the retail data recently reported is from cash-register
> and computer receipts. That's data.
>
> Take your pick.