The discounts and rebates were really reflective of retailers' desperation. If you went out for some after-Christmas shopping, here are some of the window advertisements that might have had you scratching your head:
How can they make a profit like that?!
Now that's not helping anybody. It's just rude!
Shit, this is depressing.
Okay! Now THAT's how you get people to slap down the credit card!
.
89 comments:
Doc's back, and in typical rare form
LOL!!
I cut my Christmas spending to a bare minimum, got some great deals and so far all my friends/family are happy. I really like the idea of not getting caught up in that spend, spend spend stuff. Leave that to the "have mores" if there are any left....
Sorry. I just don't buy it.
(too subtle? - I made a funny)
I get it, and I didn't buy much either. Welcome back doc.
The Retail Federation of America wants to have a sales tax holiday so people will feel like spending more:
http://www.npr.org/templates/story/story.php?storyId=98694322
I live in Oregon and we don't have a sales tax. From what I can tell, our retailers are having a hard time too. So how will this help? Oh, and they want the Feds to fill in the gap left by the tax free spending. This is out of control.
Isn't this how people got in trouble in the first place - by being conned into buying c r a p we don't need and can't afford in the first place? And now all I hear is that the only way to get the economy going again is for people to keep buying stuff. With what? I'm in Oregon too and I'm one of the 7.3% unemployed here. Who's going to care about shopping when you can barely pay rent and buy food on unemployment? We need jobs, not more junk!
GOOD POINT !!!!!
The sales tax holiday is almost as bad an idea as the earlier proposal for a reduced Federal gas tax. Do we want to create jobs for Chinese factory workers, or what?
I can't see this working anyway. I New York we got rid of sales tax for clothing under $110 a few years ago. If people have no money and no jobs a sales tax holiday is not going to make a huge difference. Six years ago, yes, it did -- now, no way! Guys at the top don't get it -- people have no money and we don't need more credit to buy more stuff.
This is a poignant example of what is wrong with "supply side economics". Yes, there is an abundant supply of cheap goods but nobody can afford to buy very much. In addition, there is the worrisome matter of will I have a job tomorrow? If not, how do I survive, let alone pay my credit card bills....
They keep bilking and swindling and taking advantage of people. Then one day people just have no more to be bilked, swindled, or taken advantage of, anymore.
Assuming that retailers can mark goods "up to 70% off" of original tag price and still make a profit, I'd say that their biggest problem is avarice.
Let's face it. The US has too many stores and the days of treating home equity like an ATM are over. No more "shop 'til you drop".
looks like not even the wonderful trickle down economical people are not, well, trickling on us anymore.
Time for some retailers' liposuction.
We are falling down a steep and slippery slope and it will be painful when we hit the rocks at the bottom. We have spent ourselves into the poor house. No matter how cheap things become, we will not buy because all our income is already spoken for. Massive bankruptcy and gradually rebuilding and producing is the rational solution. But the solution being squandered will pull us deeper around the black hole of depression and ruin.
did you get coal in your stocking again or what?
Consumerism is a habit long overdue for cancellation. Get to work building the new economy that respects the Earth, is egalitarian and inclusive.
Was the lump of coal you got in your stocking this morning the new clean type???
Merry Christmas to all! I definitely have had to cut back this year, unfortunately for the wrong reasons. Not because I saw the light and exercised self-discipline to stop buying stuff on a whim, but because money got tighter. If I was still earning what I was earning a few years ago, I'd probably still be shopping my days away like a fool. I have games I bought for the Playstation II and GameCube that I have yet to even play, and have been buying new stuff for the Wii instead of working through the games I alreadyhave. Wasteful and foolish. Well, that has come to a stop. I am being forced by the housing crisis and the cost of putting my wife through grad school to tighten my belt and stop being so frivolous. It's long overdue.
Aside from the economy.... it's all become Made in China junk.
I was in Manhattan during the Christmas season; the streets were more crowded than I have ever experienced during this season.
People were happy and upbeat. Stores were jammed. Everything seemed positive except no one was carrying shopping bags.
Saks offered 70% off and still no shopping bags.
There were lines to get into Abercrombe and Fitch, and yet no shopping bags.
The windows of every store in on Fifth Avenue had huge sale signs and yet no shopping bags.
If people don't shop, then stores will not replenish their stock, and manufacturers worldwide will have to close down, causing a further spiraling down of the economy.
If manufacturers don't produce, they don't need new machines and parts, creating even greater unemployment.
I don't think we have even begun to feel the effects of this Christmas season.
Damn, so Bush was right all along. We should just keep shopping. With money we don't have.
The economy is a kind of inverted pyramid. When people stop shopping the foundation is pulled out and the whole thing crashes. What we are experiencing is to a some extent a legal version of the Madoff ponzi scheme. Whether we should or shouldn't shop is not a value judgment thing. it is just a reality. If there isn't a market for goods no one is needed to make them and if people are unemployed they can't buy goods so more people will be let go.
What you are describing is lots of people shopping
But nobody is buying anything
MISSION ACCOMPLISHED!!!
Hehehehehehehehehe...
KB Toys (A frikkin' TOY STORE no less!!) couldn't even keep their heads above water for the ten remaining days of the season. They started "Going Out Of Business" promotions last week.
They couldn't keep up with Walmart or Toys R Us, plus they had a lot of cheap and outdated toys on their shelves.
On the bright side, I see you can get great deals on corporate jets
I think I'll pick up a couple
I got a couple-hunnert bucks.
While you're there, snag me one and I'll pay you back.
(Make sure it's got an Owner's Manual)
Too many crooks spoiled the trough.
Now the retail shakeout begins.
The United States is over-stored and over-malled.
Funny thing happens when 'consumers' stop using their CC cards with 23% interest.
Also, if retail can offer 70% off now, they can offer it year round----who wants to pay that China-made markup and CHARGE IT to boot?
Same for the 'red tag sales' on now---if they can offer 12,000 off now, they can offer it year round.
Fight back: don't buy on credit AND pay the markup. It makes the banks tons of money but bankrupts us, and we see how much help 'we' get while the banks get trillions to play with.
"Enough!"
Labor = Demand.
And when you ship all those jobs overseas people here can't afford to buy your products.
And you don't pay those people over there enough to buy your products.
We have lost almost 2 million jobs in this country, this year alone. What does anyone expect?
Henry Ford may have been a despicable person, but he was smart enough to know that to be successful selling cars, you need to pay your workers enough money to BUY your cars.
For every job outsourced overseas, that's at least one customer lost.
The U.S. auto makers are trying to increase their profits by cutting jobs in the U.S., but can't figure out that the sagging sales are the result of so many people losing good paying jobs.
And now so many people are blaming labor and the unions for their problems.
The foreign car manufacturers are also seeing sagging sales in the U.S. because so many Americans are losing their jobs and no one can afford to buy anything.
Maximizing profits on the back of labor will eventually fail.
Bingo!
Couldn't have said it better myself.
Excellent comment, and the problem is maximized by the fact that we don't make much of anything we buy.
Unemployment remained in high double-digits during the Great Depression, right up to the war. I fear we will end up going down the same road.
I don't know how anyone feel this economy will recover if there are not good paying jobs.. if everyone had to work on WALMART salaries... even WALMART will go out of business.. the cost of living in the United States is not cheap.. its is so funny how all the republicans can scream about the wages American workers make.. as if they are suppose to only make $10 hour..
sorry - $10 hour is living on the poverty level..
When do retailers NOT have a "bleak holiday season"?
Sounds like bailout talk.
That point struck me really deeply this year - I honestly had zero desire to indulge in any festivities -
The streets in my neighborhood just feel different, as if live has been put on hold ....eerie time -
I think if we can say we're warm, safe, fed & surviving, ....we're ahead of many -
It's hard to celebrate anything right about now - except our new President -
And that's the best reason of all to celebrate. I realize that things will not get better for a long while (financially / economically) but at least we don't have to see our Constitution crapped on as it was for the past eight years.
I was shocked to learn that consumer spending is two thirds of the economy.
How do you build a sustainable economy based on spending?
Obviously, you can't. Especially when you keep shipping the jobs overseas to avoid paying taxes to America and a living wage to Americans. Pretty soon those same Americans won't have any money left to spend.
I mean, gee, I actually found a parking slot at the Wal-Mart....
It's really hard to go out and spend money when we have been lied to, screwed over and burned. That isn't cynicism, it's the truth.
So many people are hurting financially that were doing OK just a year ago. We haven't stopped buying, we are being selective about WHAT we buy--not only on major holidays, but all year.
It's more a case of reluctance to spend when we aren't confident in the economy. Most people don't know where they will be next month job wise, with their mortgage, etc.
If I may offer a ray of hope:
It has been my observation, after 49 years on this orb, that right about the time that everyone agrees that the economy has entered a recession, is when the recession is ending.
God, how I hope that holds true this time around.
I'd tend to agree if the banks weren't being so tight with credit.
That is simply inexcusable, after taking $300 billion in loan guarantees.
dunno, kev... the commercial real estate is about to crash... this might throw MANY businesses & their employees LITERALLY out into the streets.
I think the worst is yet to come... & I'm NOT being a "naysayer" but I CAN do the MATH.
I think we should hedge our bets & prepare ourselves.
Bush's answer to 9/11 : go out and shop. That still seems to be our role as citizens...to be good little consumers and shop, spend, buy...
Maybe Obama can redefine our roles; less as consumers, more as citizens.
Jan 20 can't come soon enough!
I found that Amazon offered the best prices on damn near everything I wanted to buy people this year. They have an enormous network of affiliate businesses who fight each other to offer the lowest price in order to get your business.
yes. even though i didn't shop that much this year, i saved gas and hassles of traffic & parking at malls because i shopped online. big sales and free shipping. only downside is paying by credit card, but paying up in 30 days is same as cash, no interest to pay.
Same here. I shopped online, had gifts mailed to friends and family, got great deals, and will pay my credit card bill off when it comes.
Most of the Northwest and Northeast was snowed in for well over a week... no shopping got done, so the non-internet retailers got screwed.
Wow, everyone's decided they need less stuff! We should all be working 30 hour weeks and enjoying more leisure time with friends and family...
Meanwhile, in the insane land of reality, people buying less stuff is a bad thing for the economy. I really wish there was a solution to this problem.
Fuck the "consumer based economy".
The only way to make it grow is to buy more stuff. The only way to buy more stuff is to go deeper into debt. Eventually the customer will no longer be able to go any deeper into debt.
It cannot, and should not, be sustained.
As usual (tho with fewer words than usual) the wise one nails it.
So whats the solution Nostradamus?
Ideally, at least to me, we'd use technology to give ourselves 30 hour work weeks, and consume far less.
More time would mean we could bike/walk everywhere, have home gardens to produce large amounts of food (something like 30% of our food came from home gardens during ww2), and generally enjoy a higher quality of life.
The consumer driven lifestyle and economy drives me insane, but I don't see anyone out there proposing a plausible road map to get to something better.
Yeah I suck at driving in the snow so a lot of my friends got cash/checks inside cards for gifts :). All the rest of my gifts came from internet retailers!
"Yeah I suck at driving in the snow so a lot of my friends got cash/checks inside cards for gifts :)"
Completely off-topic but as someone who does frequently drive in the snow, I want to thank you for doing the responsible thing and recognizing that you should stay home. Sincerely - Thanks.
If you want some advice about gaining confidence and getting better, spend some time spinning around an empty parking lot next snowstorm. You'll learn a lot :)
i have no way to verify from first-person experience. I avoid malls at this time of the year. It's madness. I shop months in advance, and if can find on the internet for the right price, i'm happy.
Appreciate Dr.B.'s return, sharp as ever - - knows how to get folks to comment, that's for sure.
as long as I can afford the internet service and my pc doesn't fail me, I'll check back here every day. because it's fun, informative, and free
also free; HAPPY HOLIDAYS EVERYONE!
(pass it on.)
HAPPY HOLIDAYS EVERYONE!
like that
HAPPY HOLIDAYS EVERYONE!
I found it fascinating today as I watched CNN and the money guru on there was telling Americans how to slash bills by turning their heat down, buying smaller gifts this holiday season....cutting up credit cards,..etc.
As I listened it occurred to me that here I was, good credit, healthy debt, doing the right things to educate myself and stay sane as the world (economic, political, global) collapses around me. All of these institutions and CEOs and politicians showing ME that hubris, greed, corruption, fear, intolerance, etc...are ALL perfectly OK FOR THEM...but for us, the people that make the world turn....WE need to cut back, scrimp our pennies,...keep our credit tight...etc....It seems that no matter the cause, no matter the criminal situation, we the typical Americans that do the RIGHT thing suffer no matter what...in EVERY respect.
Well America, I've decided,... instead of investing 10 or 20 years in a company that won't respect me or deliver a pension for my retirement after serving that company loyally and never seeing any generated wealth from the job...
I am going to invest those years working my way UP the company ladder and into a critical leadership position that affords me the opportunity to start embezzling, skimming and stealing millions to sock away in untouchable accounts overseas, then I'll dash off right before the scandal and disappear happier than ever that I was able to achieve the American dream......yep~
Notice that laws which Bush has passed ,, are laws to check on the average everyday citizens...Yet ,, Bush gives financial institutions our money on a credit card in our name and say there is no record or oversight at all for it...So they can spend it party to buy other companies or give themselves a raise... Lets face it corruption pays and Bush's administration has shown just how much and great it pays..
It is a welfare gift he is giving them as he shuffles out the door...and Moving on up...Notice Bush is buying bigger and better homes as he leaves...The office of presidency have been great for him and he doesn't give a darn about you or me...
Great- maybe we the American public can re-focus on what's really important in life instead of the material trash from China
Oh god, don't say THAT~!
We ALL need to spend tons at Wal-Mart just to start paying back what we OWE China!
~smirk~
You might be smirking but you are speaking the truth....
If China decided to call in their loans we would be(though I suspect we already are) a territory of China
GOOD RIDDANCE TO ALL THOSE RETAILERS ETC ETC ET AL.
The consumer has been holding up this economy for the last 8 years to say the least, and all we have been met with are piss poor customer service, poor products, layoffs, downsizing, underemployment, consumer fraud on all levels, even our food has been tainted, toys for our kids tainted with iron and date rape drugs from china, and our govt does nothing all this time, great, no shopping fo you, 2 Million people lost their jobs and still no tax payer bailout, but they bailed out the banks that cause this mess, the investment houses, bailed out, the gas guzzling auto makers, bailed out, and yet a 55 yr old, laid off mom of 3 was still evicted by Fannie Mae, or country wide or whom ever, the day before Christmas, Just business as usual, Right...
No spending until they begin giving up WHOLESALE PRICES.DAMMIT !!!!
REDEMPTION FOR THE CONSUMER
someone get tommy his meds...
The only things I saw with slashed prices were cheap imported items like clothing that the retailers probably paid a pittance for. Chain stores and manufacturers were as greedy as ever even though they needed a good season and now they'll pay for it.
That's all the BIG SALES are for. Just a way to clean out old inventory or cheap crap that didn't sell last year, or the year before.
But Jesus WANTS you to buy things to celebrate His birth.
btw,
its time for Darwinism to punish the obsolete (or going obsolete) model of Brick & mortar stores.
Take your money to online shopping sites like amazon.com and vote with your $$.
B&M stores are a losing business model.
They store inventory
They hire too many people.
How they can compete against online retailers beats me !!
I heard today that Amazon did well
he less useful things are, the more the sales have plunged. Women's clothes are more decoration than necessity. Luxury goods speak for themselves. The one store that saw increased sales is Walmart which just happens to be the largest retailer of groceries in the country. Political activism aspect to sales declines too:
Bush and the Powers That Be ignore unemployment, lack of health care, foreclosures but they do care about retail sales? That"s why we have taken a vow not to spend one cent on anything we don't have to buy at retail such as food or gas until the Obama administration is sworn in. Bush"s rebates that added $1200 to our tax liability and his pleas to go shopping show the great importance of consumer spending to the legacy of Republican economics. Bush hijacked the country for the benefit of the wealthy for eight years. Let the wealthy keep the Bush consumer economy going for the next month until the Republicans are flushed in disgrace. Learn about and patronize your smaller locally owned businesses and pay cash so it's under the radar of statistics. We're hoarding all our discretionary retail spending until the Obama Administration when the recovery can begin. An "unexpected jump in February retail sales will be a nice White House-warming gift.
I totally agree - women's clothes are unnecessary. heh.
MainStreamMedia suggests WE should feel Sorry for the Retailers/Corps/Banks that brought us this crises...LOL Because WE are Not Spending Money on their Overpriced (even on sale) Crap... We are Not made of Money---They are...
Let them go down..they cheated Us by sending Our Jobs overseas to improve their bottom line profits..now they want us to spend on their crap for their profit, Pay for their Bailout, without our having jobs and a living wage....
Wow!
Bring Mfg jobs Back to America, Make Quality Products that don't have a "longevity code" built in, Put US back to work so We have Money to spend on well made quality items/clothing/electronics and etc.
the simple fact is that roughly 70% of the us economy depends on consumption spending
if spending goes down, we get a recession
and that "we" includes you and me
What Would Jesus Buy?
Actually, our GDP is 70% reliant on consumer spending, and much of that spending is on non-essentials.
Americans buying less stuff they don't need is the very definition of a recession and the large scale implications of this event go far beyond retail employees. Indeed, this kind of sea change in spending habits affects every single sector of our economy and can and will lead to things like increased crime, homelessness, illness and beyond.
Somehow I don't think the Bush and Cheney families are going to feel the impact of the recession.
OK
I posted to my blog on Saturday as promised.
I have to get up early (for me) to go to the movies on Sunday and may not post anything until Monday. It's a slow week anyway, and I need to be 'inspired' because I'm out of ideas at the moment.
Thanks for the many funny and not so funny but always interesting comments.
Oh, the movie is 3 hours, and is called 'The Curious Case of Benjamin Button', starring Brad Pitt, and is based on an F. Scott Fitzgerald short story in which a baby is born an old man. Either way, his parents can’t get out of buying diapers.
Happy Holidays.
Oh, snap! So, want company monday or tuesday?
Whoa! Does Buffy know about Julie? You can't blog but you can see Julie? what's the deal LOL
fess up doc. inquiring minds want to know...
Settle down, gang.
Buffy TOLD me Julie commented. Julie's my youngest daughter, up from South Carolina with her hubby & kids for the holidays.
Jules: Tuesday's good - nurse Buffy's going to be helping a friend who's having surgery on Monday.
Julie - tell your dad to get back to blogging (click her thingy people, blogging runs in the family)
noses run in my family
LOL
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