Holiday Retail Sales Up: What Happened To The Worst Economy Since The Great Depression?

Waco, Texas - “Shoppers out in droves for Black Friday despite weakening economy.” Waco shoppers Friday gave Scrooge the boot and thumbed their noses at a bad economy as they filled parking lots and even did some good-natured shoving as they entered stores en masse.

Nov. 29 (Bloomberg) - U.S. holiday retail sales increased 3% yesterday from a year earlier, the smallest gain for a “Black Friday” in three years.

CNN - Holiday Shoppers Are Spending

Guardian — Holiday Shopping Season Gets Lukewarm Start

Isn’t it interesting how the media reported the 3% increase in Black Friday sales? It got variously described as “consumers thumbing their noses at a bad economy,” the “smallest gain in three years,” “positive for merchants,” and “lukewarm.”

Since we’re supposedly in the worst economic downturn since the Great Depression, it’s surprising that Black Friday sales are up at all, and surprising that sales are expected to increase by 2.2% in 2008, close behind the 2.4% last year when the economy supposedly was not on the verge of falling into the Great Depression (see table above)? What gives? Shouldn’t any increase be considered good news?

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