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meganmcardle.theatlantic.com - 12/30/2008

Bad news for retailers, and credit card companies

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Retail sales plummeted in November and December. This is exactly what I, for one, expected--every time I went to a mall, the parking lot was full, but there were no lines at checkout.  This isn't only bad news for retailers, but also for credit card issuers, since one guess where the ...

5

washingtontimes.com - 12/23/2008

Why do retailers fear using the word 'Christmas'?

— washingtontimes.com — By: Tilden It seems to me the question is why the Times sees conspiracy everywhere it looks.... Given that you oppose all sorts of regulation or intervention in the economy, you might back off the retailers here. Clearly they are making their decisions ... (more) Why do retailers fear using the word 'Christmas'?

Comments vote downundo vote up Pirate's Cove found this 12/23/2008found this

2

nytimes.com - 1/5/2009

Credit Card Companies Take What They Can Get

— nytimes.com — Bank of America says it eased off on more than 700,000 credit card holders in 2008, lowering... interest rates and some balances. (more) Credit Card Companies Take What They Can Get

Congress

Comments vote downundo vote up Political Animal found this 1/5/2009found this

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reuters.com - 12/26/2008

Retailers' holiday sales plummet | U.S.

— reuters.com — NEW YORK (Reuters) - Retailers' sales fell as much as 4 percent during the holiday season, as... the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse. ... (more) Retailers' holiday sales plummet | U.S.

Comments vote downundo vote up Firedoglake found this 12/26/2008found this

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RETAIL SALES DROPPED: “But it seems to me that this is actually good news for consumers and, in the…
Instapundit — ... RETAIL SALES DROPPED: “But it seems to me that this is actually good news for consumers and, in the long run, the economy. Americans are massively over their heads in debt, and have been consuming beyond their means for a long time. The data shows them cutting back their spending to more reasonable levels, and cutting back the most in the most discretionary categories. I feel bad for Hermes and all, but we couldn’t keep propping them up forever.” ...

Deleveraging, retail style
TigerHawk — ... a short post by Megan McArdle on the precipitous decline in retails sales during November and December. Megan does not think it is all bad: But it seems to me that this is actually good news for consumers and, in the long run, the economy. Americans are massively over their heads in debt, and have been consuming beyond their means for a long time. The data shows them cutting back their spending to more reasonable levels, and cutting back the most in the most discretionary categories. I feel bad for Hermes and all, but we couldn't keep propping them up forever. This is all, ...