Sure you are,I read it in newspapers and magazines all the time. Americans are throwing off the dark cloak of a bad economy and putting on a happy face.
AP- NEW YORK -" The shopping marathon continues: Americans are hitting the malls to spend gift cards on whatever items Santa may have missed and pick up items on clearance.
Just how did they determine this shopping marathon since the totals have yet to be tallied or announced? Did they count heads in the mall? Or perhaps count empty parking spaces? Or maybe, they just wrote it as fact whether its true or not. Don't looked so surprised, I had a customer in Birmingham that advertised heavily in the newspaper. After every few thousand dollars spent, the newspaper would write a nice article about his business.
AP- "Strong sales in the coming week would build on the highest-spending holiday season since 2007, which was a record year. Dec. 26-Jan. 1 makes up less than 10 percent of the Nov 1-Dec. 31 holiday season but accounts for more than 15 percent of holiday retail spending, research firm ShopperTrak says."
You know what other year set sales records? 2008, as the worst Christmas season on record since the end of WW2. 2009 showed a 1 percent improvement over 08 so when they say that 2010 looks like a great year, what are they really saying to us?
See? The recovery is under way and accelerating, unemployment may have broken the fifteen million threshold and underemployment may include ten million more but the recovery is on track, full speed ahead. Home prices may have fallen year over year for the first time ever and there is a five year backlog of homes unsold and homes soon to be foreclosed upon, but it won't slow the recovery even if it is only in their mind.
The nations payrolls have added 951,000 jobs this year but unfortunately over 400,000 lose their jobs each month. The stores must be filled with eager shoppers ready to spend all their extra money from their rising wages. For the year 2010 workers wages have risen an astonishing three tenth's of one percent. For every dollar the average worker earned last year they earned a dollar and three tenths of a penny this year!
Bloomberg- "A wave of foreclosures waiting to reach the market means home prices will remain under pressure in 2011, representing a risk to household finances. Rising equity values and an improving job market will probably help offset the damage, ensuring that confidence and spending continue to climb. "
What improving job market?
AP- "Still, stores are expanding their hours and in some cases bringing in fresh merchandise to sell.
Toys R Us is touting a $50 gift card with any $299.99 Xbox 360 250GB System and a $20 gift card with any $149.99 Nintendo DSi or $16999 DsiXL."
Why are these stores offering such great values? Could it be that these items didn't sell well during the "shopping marathon"?