“All hat, no cattle“ – Cowboy adage for an empty suit
Bloomberg.com reported on Nov. 19, 2013 what they refer to as “the weakest holiday shopping season since 2009. ”
So anemic is this year’s forecast for retailers that Bloomberg cites that in a bid to draw more shoppers to their aisles, discount giant Wal-Mart is slashing the cost by a third of a 32″ flat screen television from $148 last year to this year’s mere $98.
To hammer home the point, Bloomberg.com emphasized what other retail powerhouses have up their collective sleeves to attract shoppers:
- “Sears Holdings Corp. has waived layaway fees and its Kmart chain is introducing a rent-to-own program.”
- “More than a dozen retailers are opening earlier, or for the first time, on Thanksgiving Day.”
- “Among the attention-grabbing stunts: a $1 million jackpot for one of the first shoppers to visit Gap Inc.’s Old Navy chain on Black Friday.”
The Obama Effect…
Amazingly enough, 2009 was also the first full year of the Barack Obama administration.
2009 was also the beginning of the American Recovery and Reinvestment Act, aka: “The Obama Stimulus Plan”. Almost $1,000,000,000,000 worth of stimulus later, the American economy is in real danger of being overtaken by China as the world’s economic superpower.
To paraphrase Greg Gutfeld of Fox News, “Obama promised us a robust economy, he just forgot the ro.”