Market Crash In the Works: “A Canary May Have Just Keeled Over”
December 30th, 2013
As holiday shoppers raided Black Friday sales and internet retailers ahead of Christmas, the establishment media heralded a new era of economic boom for the 2013 shopping season.
But things are not at all as they may seem if all you do is follow official government statistics and propagandized mainstream news report.
In the week leading up to Christmas, for example, retail analysis firm ShopperTalk advised that brick & mortar retail traffic was down over 20% this year.
…In-store retail sales decreased by 3.1 percent from the same week last year. Retail brick-and-mortar shopper traffic decreased by 21.2 percent compared to the same time period in 2012.
Some would argue that much of this foot traffic jumped to the internet to make their holiday purchases, but according to the National Retail Federation sales online were only slated to rise 3.9% this year, which is nothing to write home about considering annual retail sales for the last 10 years rose an average of 3.3%.
Consumers, it seems, are starting to feel the pinch of widespread job losses, wage reductions, cuts to government assistance and termination of unemployment benefits for millions.
But the cuts in consumer spending don’t just stop with traditional American holiday staples like electronics, brand name clothing and furniture.
It is affecting all consumer markets.