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Nope, just grown tired of ignorance and absolutes.
Yep honesty is pervasive among the mega-rich. Tough to find a scammer among them. Must be their Ivy league education and the high level of ethics that is demanded on Wall Street of all of their con artists.
The thing is that conning people is part of their morality. It's totality fine and anyone who doesn't fit is out. Pretty interesting people once you get to know them.
It appears that online sales were not as much as projected and malls were pretty empty. I can't validate this since I have up on buying junk several years ago. But one economist calls this the Sharing-the-scraps economy, and that is where the U.S. economy has devolved to. People fighting over the scraps on Thanksgiving. Gives a whole new meaning to Thanksgiving day and those who have to work on that day to make a few extra bucks to survive. Pretty dismal all around.
Average credit card debt: $16,140
Average mortgage debt: $155,361
Average student loan debt: $31,946
In total, American consumers owe:
$11.85 trillion in debt
An increase of 1.7% from last year
$890.9 billion in credit card debt
$8.17 trillion in mortgages
$1.19 trillion in student loans
An increase of 7.1% from last year
“Black Friday” was actually “Black Friday Week” and “Black Friday Weekend.” Despite promises from the Fed and the Obama Government that the economy is doing well, the nation’s retailers can smell a brewing holiday season disaster. This is why they all seemed to “leap frog” each other backwards to start their “Black Friday” sales first. It was textbook market cannibalization.
Most of the stores in my area "appear" to be doing fine but numbers are always instructive when looking for answers. The so far dismal sales in this seasonal market looks to be a harbinger of what's to come at full tilt Xmas shopping time. I don't know that more credit buying (and most of it is) is necessarily a good sign of consumer confidence or maybe a sign that consumers are back to wanting what they can't afford.
Reading on Jim Kunstler's blog recently I ran across some noteworthy thoughts on the fact of our funny money economy and the effect of it's role in consumer buying habits. Seems as though many can't reconcile the fact of their money buying less while their wanting rises to levels of "needing" that new Dodge Ram they "seen" on TEE VEE...
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Ignore the data at your peril
