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In yet one more unneeded sign that the nation’s economy is in free-fall, we get the news, just one day after Christmas, that the holiday shopping season was every bit as dismal as everyone expected. SpendingPulse, a division of MasterCard Advisors that tracks sales paid for by credit card, checks and cash, came out with the grisly numbers. Turns out, total retail sales fell between 5.5 percent and 8 percent from a year earlier, according to the tracking service. Granted, not all of this can be blamed on the economy. Terrible snowstorms throughout much of the country kept many shoppers away from the stores. I imagine these folks gave their loved ones the dreaded homemade coupon for Christmas. You know the kind: “Good for one free breakfast in bed” or “Redeemable for one free hug.” When I get those, I always look for the “Good for one free kick in the butt” card to use on the giver. The slow retail sales, of course, are bad news for anyone looking for a job or struggling to hold onto the job he or she has. As retailers lose confidence, so do the rest of us. Let’s hope that 2009 turns out to be better than everyone thinks it will be. Comments |
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