[quote=Rich Toscano]As far as Black Friday goes, Barry Ritholtz offered the idea that people crowding the stores to get the discounts while they are available is a sign of consumer weakness, not strength. I’m not convinced of that but it’s an interesting idea. I guess we will have to see what the rest of the season looks like retail spending wise…[/quote]
Interesting you should mention this Rich, I was just thinking the same thing.
IMO, just because people are spending (if, in fact they are), doesn’t mean they can afford to–and could actually indicate a level of desperation as noted in the article.
This also magnifies one of the reasons most people can’t afford to retire well–which may become an almost insurmountable problem in the near future.
