So High Above

The preliminary sales figure for retail sales on Black Friday were announced at 3% above last year's figure, which is anemic to say the least. How much an an increase in gross sales is really insignificant though, the numbers that matter are the margins. It appears that the increase in gross receipts was a function of deeply discounted prices coupled with advertising blitzes. If retailers are dumping inventory at just above or in some cases below cost the gross sales are not really indicative of the reality of the dismal retail season that is about to happen. Most retailers count on December Sales to turn their books from red to black even in the best of years, however, this year is far below even the worst retail sales in decades so nothing but a record breaking shopping season will be able to accomplish the balance sheet color change, and that is very unlikely to happen. With consumers coming out of a period where energy costs ate away most of the discretionary money that would ...

Today Retailers announced that their March sales were the slowest in 13 years, this would seem to contradict the spin that the Bush Administration has been touting that we are not in a recession. Yet again the Bush Administration would like to ignore the reality and live in a fantasy realm that the economy is fine. Let's examine where we are at today April 10,2008. The American Dollar continues to fall against world currencies, oil and gas prices continue to rise, food prices are rising, unemployment (even as counted) continues to climb, while jobs held continue to loose benefits. The banking industry is in disarray with major banks stating that they were curtailing lending even as the Fed continues to bail them out with tax payer dollars. The Congressional leadership offers no solutions and pushes no real agenda for the change that they were elected to accomplish. American blood still flows in the Middle east, Military Families are still suffering at home. The Middle Cla...