Monday, January 6, 2014

Holiday sales disappointing in December 2013

Look at the Christmas sales. They have been the worst since 2009. I think a lot of the retailers made a mistake. They believed the hype, just like the investors and the economists. They loaded up on inventories coming into the Christmas season.

That is why we got a 4 handle on the third quarter GDP. But I think they are finding out that a lot of Americans just don`t have any money to buy stuff. They are spending too much energy and food, they have lots of debt and lousy jobs.

So, I think we are going to see some record sales following Christmas in the New Year. Not sales in selling, but declines in prices for sale.