Yes, holiday sales may have gotten off to a booming start, but it's all a bunch of smoke and...

|By:, SA News Editor

Yes, holiday sales may have gotten off to a booming start, but it's all a bunch of smoke and mirrors, says InvestorPlace's Jeff Reeves. Here's why: First deep-discount bargains may spur more sales, but they don't create profits or jobs. Second, incentives spur planned purchases earlier not growth, and may actually take away from future demand. The whole idea that strong holiday sales are the elixir for all that ails our economy just reeks of more irrational exuberance.