Friday, December 26, 2008


The wizards of spend just don't give up. The day after Thanksgiving was a flop. Not surprising given the fact the HELOC nation is broke.

Christmas season was an even bigger flop. No more giving $2000 TVs bought on the 22% Visa as a present. And ditto for the $500 jeans being stuffed in the stocking with care.

But not to worry, CNBC is breathlessly telling me that today, Boxing Day (for those of you reading in the Great White North) is the new Black Friday. Sales of 60, 70 even 80% off will finally bring the consumer back to the malls today. It's a little like the heroin addict who is trying to kick the habit and the dealer calling up and offering an 80% off heroin sale. It is pathetic and disgusting. For shame JC Penney. For shame Macy's.

Just once, I want to see someone on TV say what needs to be said. Americans need to stop spending for a few years. I don't mean stop spending all together of course. I mean stop buying a new TV every 2 years. Stop buying the latest iPod every 6 months. Stop getting a new phone every 6 months as soon as a new model comes out. Stop getting a new car every 2 years. A pair of jeans has been known to last more than 3 months before requiring replacement.


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