The poor Christmas shopping season, which appears, preliminarily, to be a poor post-Christmas shopping season, and its effect on the economy was the topic of today's News Talk Online on Paltalk.com.
Last week during the Paltalk Unplugged show I interviewed a woman at New York City's South Street Seaport who told me that her entire family agreed to exchange not one gift this year.
Another woman told me today that her family did exchange gifts, but they gave fewer and spent less than year's past.
The economy is clearly affecting shopping habits. And those shopping habits are effecting the economy.
New York City, with its vertical neighborhoods, is reliant upon the omnipresent small mom and pop restaurants that deliver fresh meals, usually by kamikaze bicycle riding delivery men, to people who live in tiny apartments and don't take the time to cook. But WNYC, New York's public radio station, recently explored a new trend - people cooking for the first time. Again, tightening up their budgets.
Fewer people going out to eat means less money circulating in the economy. Resulting in restaurants cutting back or even closing. Resulting in more people cutting back on their spending. This has the possibility of turning into a vicious downward spiral.
How did you adjust your holiday spending this year? Are you concerned about the continuing recession as we move into 2009?
As we take prudent measures to balance our own household budgets, there is a danger that we are contributing to the very economic morass that we are trying to protect ourselves from.
President-elect Barack Obama is said to be considering a make work program to rebuild our aging infrastructure and help stimulate the economy by getting more money circulating. But how can he do this when he plans to redeploy troops from Iraq to better prosecute the war in Afghanistan?
All important, interrelated questions for which, alas, there are no clear cut simple answers.
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Photo credit: http://www.flickr.com/photos/ioannart/3139086944/
2 comments:
Hi Gary
This is the latest on Christmas trading period December/Jan 09. CONSUMERS across Australia have spent a record $38 billion in the lead-up to Christmas, with another $7 billion expected to be handed over the counter in coming weeks during the school summer holidays.
NSW consumers have so far been the biggest spenders, splurging around $12 billion, followed by Victorians at $9 billion and Queenslanders at $8 billion.
Peak industry groups say sales are up on last year's record by four per cent.
With pre-Christmas shopping all but over, NSW is also tipped to spend $300 million in Boxing Day sales this Friday, followed by Victoria at $260 million and Queensland at $190 million.
Shoppers will be able to take advantage of sales of up to 70 per cent off or more for approximately two weeks into January,
Prime Minister Kevin Rudd has given cash away, $10.4 billion to stimulate the economy. The total includes a one-off $1000 payment in December for each child to families with dependent children. Followed by, $1400 to single pensioners and people with disabilities and carers and $1000 per couple pensioners.
Dimitrios (pal-editor)
I should star with a question? what is the real meaning of these christmas? is it to buy allot of things for many people ?
Christmas time is often a time we tend to splurge, take out the credit cards, and spend more than we can pay. This leads to year-long pain and bills. Be free of this stress and use some common sense ideas to cut your holiday spending.
I think people took conscience of the existing situation, and consumers had to adjust their budgets and risks and saving in real, isnt it the positive side of a crisis ?
so people trends to be more creative for giving gifts and sharing quality of time is the thought that counts friends and family might enjoy your time as much as a gift.
sil2004
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