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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.

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.

But all is not yet lost, SOME are doing just fine, thank you,
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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