Ahh, nothing like spending the last of your emergency savings on a set of golf clubs on sale at Dick's Sporting Goods. Much to economists surprise, retail continues to be chugging along for a fourth straight month.
The commerce department numbers come out this morning and are expected to show an increase in consumer demand as Americans spend more on home computers, new cars (what better time?), and groceries. This is great news to replenish a hurting economy, I just LOL at spending frivolously during a time where people were caught flat-footed and penny-less. I guess it's the people who still kept their job, or those buying steaks on a stimulus package.
Unemployment declined but still remains at large with sectors like hospitality, food service, and travel being shut down. I can think of some reasons why spending increased: STOCK GAINS with the realization that this is one of the most lucrative years in the century so far to be a part of the market and the government money handed to some of us.
Most retail stores like Lord&Taylor and Neiman Marcus have seen their sales go down the drain like the hairball you leave at an in-law's shower. Many retailers have filed for bankruptcy this year, and plan to liquidate.
Best Buy, though? Sales have been churning this summer, as Americans have decided to spend their (or in some cases, OUR) money on stay at home goods for social distancing. If I was an incel, because I'm totally not (wink), this would be a dream come true. Everyone buying cool gadgets to stay at home and leaving me the hell alone. I do find it humorous how this is a real-life showing of "Revenge of the Nerds". Who's laughing now!? Welcome to a life of dimly lit rooms, light-up keyboards, and several kleenex tissue boxes by the monitors.
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