Recession? What recession? I avoided the stores on Black Friday, but did venture out later in the weekend looking for a few deals. And the stores were absolutely packed. I know local economies vary significantly across the country, but I was a bit surprised to see all the shoppers out.
My surprise ended when I hit the checkout line. The plastic was flying. Of course, these days it’s hard to tell the difference between debit cards and credit cards, but the person in front of me used a Discover on about $600 worth of electronic goodies. Made me wonder if she had the $600 to pay off the bill when it arrived.
Which brings me to the larger question: Is all this positive spending really just Americans running their credit card balances back up, and our savings rates down? And so it goes, it seems, in the land of conspicuous consumption.
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