According to Gallup, Thanksgiving week spending plunged 25% from a year ago, and couldn't even...


According 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.

Comments (12)
  • nightfly
    , contributor
    Comments (1015) | Send Message
     
    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...
    1 Dec 2009, 06:39 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6830) | Send Message
     
    This tells the real story. Not the superficially strong Black Friday sales.
    1 Dec 2009, 06:43 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    now THIS is accurate when compared to the consumer data we're seeing.
    1 Dec 2009, 07:16 PM Reply Like
  • Grueby
    , contributor
    Comments (10) | Send Message
     
    Does this information really matter at all and have an effect on 12/2/09 market activity. The market will still close up for the day tomorrow. With the Fed. and it's ability to perform it's magic no negative events as they did in the past really seem to matter. Fundamentals now mean nothing. I just love this market, although I know someday I may not like it nearly as much. That's why you need to do your homework.
    1 Dec 2009, 07:39 PM Reply Like
  • Robespierre
    , contributor
    Comments (223) | Send Message
     
    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

     

    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...
    1 Dec 2009, 07:45 PM Reply Like
  • Northern Dancer
    , contributor
    Comments (733) | Send Message
     
    On Dec 01 07:45 PM Robespierre wrote:

     

    > 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.

     

    .
    1 Dec 2009, 08:02 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4276) | Send Message
     
    Hey nijklom: Didn't you read the post? No one is buying Chinese made crap.
    1 Dec 2009, 08:32 PM Reply Like
  • Need2Learn
    , contributor
    Comments (28) | Send Message
     
    Consumerism sucks. And all things come to an end, even the stock market.
    1 Dec 2009, 08:33 PM Reply Like
  • Tack
    , contributor
    Comments (15895) | Send Message
     
    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.
    1 Dec 2009, 08:45 PM Reply Like
  • somecatchyphrase
    , contributor
    Comments (258) | Send Message
     
    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:
    1 Dec 2009, 08:59 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    Ha! Redbook retail index is correlated with the general merchandise portion of retail sales covering only about 10 percent of total retail sales.

     

    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.
    1 Dec 2009, 09:04 PM Reply Like
  • fed_alchemy
    , contributor
    Comments (245) | Send Message
     
    This year the food stores were full of unsold turkeys the day before Tday usually they sell out . And this is a stable part of the country
    1 Dec 2009, 09:16 PM Reply Like
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