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December 16, 2007
Today's Economy Collapse Post - "Ominous"
-- by Dave Johnson
Rising gas, food,health care and other prices, falling housing prices and savings rates, stagnant wages and all the rest are taking their toll: Retailers Face an Ominous Holiday Sign - New York Times,
Sales of women’s clothing, a traditional pillar of the holiday shopping season, are unusually weak so far this year, according to a major credit card company, an ominous sign for the retail industry.But all is not yet lost, SOME are doing just fine, thank you,From high-end dresses to bargain coats, spending on women’s apparel dropped nearly 6 percent during the first half of the Christmas season, compared with the same period last year, according to MasterCard Advisors, a division of the credit card company.
Spending on luxury items is up 10.8 percent, “which isn’t bad at all,” Mr. McNamara said.Yes, at the top things are great.
A certain commenter might want to leave a message about heads on pikes, torches and pitchforks right about now...
Posted by Dave Johnson at December 16, 2007 2:16 PM
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