Well, projections of doom and gloom proved wrong.

Black Friday's sales were up 3% over last year.

Spending money makes the world go round.

I read that too Lynn I wonder what's up?
Did people try to get in on the bargins & cram most of the shopping into one day?

Are they buying on credit or do they have the cash?

Can we believe the figures?

My guess would be that the spending habits of the hardest hit havn't changed.

The wealthiest have lost a lot on paper, but it dosn't really affect thier lifestyle.

The poorest never could spend hundreds on Christmas.

The middle class has lost alot in retirement accounts, & net worth, they are worried, but havn't been hit very hard day to day yet & are determined to have a "normal" Christmas. I suspect when the bills come around in Febuary they will be hurting. Perhaps those that would normally be shopping in higher end department stores are now shopping at Wal mart. It will be interesting to see which stores do well.

This is all just my speculation.

I don't participate in the holiday consumer frenzy myself.

Not spending right now might be one of the worst things individuals can do.

We shall see if people keep spending.

For an interesting look at money you all should check out

"The Ascent of Money: A Financial History of the World"
by Niall Ferguson

haha I haven't finished it yet! Reading it at the bookstore! I can't afford to buy it right now!

Money is cheap right now & I have started investing not spending. I want to take advantage of the dip by growing what money I have. People at work are all pulling out of the 401K program, which is a shame, because that money is gone & now they won't recover any of it. I will be joining it soon & picking a conservative plan.

I'll see if the library has that book. I am 40 miles from a bookstore. I saw a video that might be related if I find it again I'll e mail you the addy.

While doing my laundry yesterday at the laundramat was talking with some folks. They said that the not only was the laundramat swamped but so were the other stores. One store opened at 4:00 am, another had a line out into the parking lot. At that store a woman ran in grabbed an item and made it to the register before the clerk was able to get there from unlocking the door.

People get crazy on these shopping days.

I dont have money to spend so to bad so sad.

At the risk of being clobbered for saying it money is in some ways a leap of faith.

Money is worth what we believe it to be worth. When we become afraid our spending changes...it becomes a self-fulfilling prophecy and others start sitting on their money too.

Credit, something many abuse is also an important part of growing the economy. Again...something necessary and when used properly a productive and beneficial process.

Funny how that is...using a tool properly benefits you and in the case of money it also benefits the people around you.

wag the dog

great flick..

thats whats going on

I know.i was trying to interject some jocularity to an otherwise depressing discussion..

"Money is worth what we believe it to be worth."


This is the absolute truth Lynn!

close

money is worth what they think it is worth

I think part of the reason that sales were down the past couple of months were because people were saving for that one shopping day.

I know several people who did that.

I, on the other hand, wouldn't be caught dead shopping on Black Friday.

I did stop at a store to take a peak. Wednesday night I bought 5$ yarn on sale for 1$. On Black Friday, it was 2 for 9$. In fact, all the sales in that store were WAY better the night before Thanksgiving than the day after.

That does not surprise me Moondark. January and Febuary is when you get the real bargins. When I did Christmas, I'd buy all my giftwrap, ornaments ect. for next year when they had been reduced to 50% or less.

That's really the best way to do it. One year, I was done with christmas shopping and had it all wrapped and ready to ship out by the end of June.

Reminds me a society studied in a Sociology class who measured their wealth in rocks.

What one values another may not.

When my freezer & pantry are full, my car is running right & has good tires & my bills are all paid I feel wealthy. My only real desire beyond that is land. You can grow food on it. There's a reason it's called "real estate".

I still think the money has value.

I think the past couple of decades pushing up prices each year, trying to find out how far they could go has resulted in things not being worth the prices the companies are charging.

There are a lot of things I want, and some things I actually need, that I won't get because I just don't think even the needed items are worth the price tag.

I agree..Sad our homes have lost so much value..