Yes! Once again the futures are up!
Who could have guessed such a thing? At 7:30, we have about a half-point gain in the US futures despite the fact that oil is languishing at $73.35 and gold is down to $1,091 with silver failing $17 for the first time since October and copper bouncing off $3.12 again. So no one wants any commodities but the economy’s great??? Perhaps it’s because, according to the Rasmussen Report, that as of yesterday, 52% of Americans were not done with their holiday shopping. In fact, according to what has to be either an idiotic survey or a survey of idiots, 24% of adults have not even started their shopping yet – with just 2 shopping days left!
Sixteen percent (16%) of adults say they will be spending more money on gifts this holiday season compared to past years. That’s up seven points from last week and the highest level measured so far this year. However, most (63%) say they expect to spend less money this year.
I suppose we can always hope that the 16% who spend more will spend more than 4 times what the other 63% cut back and then all our Retail Christmas wishes can still come true. So forget the disappointments of Black Friday and Cyber Monday and Super Saturday and Snow-Bound Sunday – we still have “Take What’s Left Tuesday” and “Whatever is On-Sale Wednesday” and “Thoughtless Gift Thursday” for all the real last-minute enthusiasts.
I’m sure if this week disappoints, the media will be waiting to spin how great they expect the post-holiday rush to be as everyone comes in for the sales (as retailers desperately race to clear their shelves so they have less to load on trucks when they close 20% of their stores and lay off a few million people next quarter). Why would the media spin retail so positive? Who do you think pays their bills? The most important message the media needs to send every minute of every day is: “Advertising works!”
So get out there you last-minute maniacs and shop or the economy drops! Unfortunately, no one will tell you this is happening but me and I almost feel silly to keep saying it BUT LOOK AT THE SIGNS! We’ve been reading the tea leaves since the weekend with our PSW Holiday Shopping Survey, which has given us mixed reports from aroud the country and I urge Members to contribute their shopping anecdotes as it gives us a great picture of what’s…