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Black Friday Just Died

Original newz story - Click here
By ALLEN EDWARDS, on November 28th, 2015

blackfriday1

Once upon a time, a great many people would camp outside of stores after eating their yearly Thanksgiving dinners in hopes of getting good deals on just about any item that they could imagine. People used to fight over everything, from clothes to the latest gadgets, but all of that has changed. After this Thanksgiving, we can officially say that Black Friday has just died.

Even before Black Friday officially started, companies across the nation were preparing to usher in hordes of customers who would fight for any kind of deal that they could get on the goodies their hearts desired. I know that at my local Walmart I saw the local police show up bright and early to get prepared to handle a disruptive crowd. Walmart even had all of their workers there ready to go. My local Walmart had all of their cashiers working that day in anticipation for what they believed would be another banner year for sales. Even outside of Walmart, they had all of the metal gate systems set up to coral the customers and to herd them into the store like cattle. Something interesting that I noticed was the fact that there was a ton of parking places that were open. Really, the whole parking lot was pretty much empty, except for a few customers who were trying to purchase ordinary items that they needed for the day, like a gallon of milk. Last year, people were fighting over everything, but his year, only one little old lady was there. Believe it or not, she set up a chair next to discounted dishes in order to beat the crowd, but there was no crowd. What was sad was the fact that this woman was staked out to purchase dishes that had been sitting on the shelf in the store all year long. These dishes were not something that just got flown in from some exotic place. These were dishes that had dust built up on them and had been sitting for who knows how long on that shelf. In fact, the only thing that this Walmart had to sell for Black Friday was junk. Not everything was on sale, just some electronics and some housewares. How sad!

It used to be, you could buy anything that you wanted on Black Friday, but now all you can buy is junk that has been sitting around on shelves gathering dust.



Did you know that Walmart’s Black Friday actually started weeks ago? Walmart made an announcement that they would start having Black Friday sales on November 1st. What was funny was that at my local Walmart they were trying to hide the fact by not advertising, but people were coming in and complaining because Walmart corporate office had kicked off Black Friday early but this store was not wanting to advertise the fact. Now that says a whole lot. Why would Walmart need to kick off Black Friday weeks in advance of the official Black Friday? The reason is because consumers haven’t been spending as much on things that they don’t need anymore. More and more people are waking up to the fact that they can’t spend like they used to. Many people are out of work. On top of that things are just getting more and more expensive. People can’t afford to spend like they used to. They need to spend money on food rather than a new TV. Back in years before, the people that were doing the spending were the middle class people. Over the years all of our good paying jobs have been shipped overseas to places like China and we have been left without a middle class. What we have now is a rich upper class and a poor lower class.

What I saw happen at Walmart happened across the country. This didn’t just happen where I live. Even places like Target and even the Mall of America was affected by this year’s poor turnout.

At the Mall of America in Minneapolis, the largest in the country, Edward Yruma, managing director at KeyBanc Capital Markets, said he’s seeing less traffic than years past as well. He was there from 6 p.m. to 1 a.m. last night and arrived again at 8 a.m. this morning.

“It doesn’t look much busier than an average Saturday morning,” said Yruma.

Many companies have felt the pinch of consumers not spending the same amounts of obscene money like they used to and everyone is going to realize pretty soon is that it’s only going to get much worse. The fact is that if things have been this bad already, Christmas is going to be even worse this year. So what is going to happen? Well, for starters, investors are going to pull their money out of companies.

Wall Street, fearful that consumers are running out of cash heading into the crucial Christmas retail season, are selling off retail stocks and everything else sensitive to consumer spending.

So when investors pull their money out of companies and consumers aren’t spending any money either there is only one thing that a company can do and that is to start firing it’s workers. The sad fact is that companies won’t need all of there employees if nobody is buying any of their junk. If we don’t start to witness companies laying off a lot of workers now that Black Friday was a dud, then we will definitely see that happen after Christmas and the new year. Companies don’t have unlimited cash to pay for their employees to do nothing. So eventually people will be fired. Where will all of these unemployed workers go to find jobs? The answer is nowhere. The fact is that nobody is hiring right now. That means that things will get even worse because more and more people will lose their homes because they can’t afford them and more people will be on food stamps.

Look at all the “Hope And Change” our great Golfer in Chief promised us that is happening all around us. It is just amazing. I don’t know how much more hope and change we can take before we explode.

Look at the headlines from around the country. Wall Street fears that Americans are dead broke, and Thanksgiving shopping at stores was a bust. Those aren’t good headlines. How can this be? The president keeps telling us that we are in a recovery and that everything is fantastic. It is so great that we are apparently at 5% unemployment.
You tell me. Do you think things are that great? I don’t.

Just look at Puerto Rico. Puerto Rico is about to default.

Last week, we brought you the latest from Puerto Rico’s debt debacle. The commonwealth is desperately trying to restructure some $72 billion in debt while staring down a $354 million bond payment due on December 1.

As we discussed at length on Friday, some $270 million of what’s due next week is GO debt guaranteed by the National Public Finance Guarantee Corp. Defaulting on that is bad news and as Moody’s warned earlier this month, a missed payment on the commonwealth’s highest priority obligations “would likely trigger legal action from creditors, commencing a potentially drawn-out process absent swift federal intervention.”

Make no mistake, federal intervention is likely to be anything but “swift.”

A Senate judiciary committee headed by Iowa Republican Charles Grassley will meet on December 1 to discuss a legislative proposal to assist the Padilla government, but it’s hard to imagine that a decision will be made in time to avert at least a partial default.

Ultimately, the decision will be between paying bondholders and ensuring that the government can continue to provide public services, and just as Greece prioritized pensions over IMF payments last summer, Padilla isn’t likely to sacrifice the public interest at the altar of the island’s debtors.

Things really aren’t that great right now, and the fact is that time is running out. Time is running out to be prepared for even worse times ahead. How much longer can we continue going on like this? I don’t see how we can. Next year, 2016, looks like it is going to be a nightmare for all of us.

Wake Up America, before it’s too late.

Hi Folks

ALLEN EDWARDS