The Coming Recession

I watched the television news last Friday night with my husband. The video they ran from earlier that “Black Friday” morning showed what appeared to be thousands of people lined up outside a shopping center waiting to get in the doors. The reporter talked about how incredibly packed and busy the shopping center was. I asked my husband to guess how they were going to spin that as a negative for the economy. Sure enough, before the report was over there was talk of a possible coming recession. Evidently all those people were not at the shopping center because they had money to spend, but because they were looking for deep discounts because the economy was in such a fragile state and people were hurting so. Rob Boyce takes a look at similar coverage and provides some figures that don’t fit many of the reports that ran. He also makes a good point about how high gas prices might have affected online shopping.

Wednesday's Business News
Determination, indeed