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this post was submitted on 28 Nov 2023
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Above normal. The data suggests US citizens still have credit limit or not feeling the pinch as all the news articles suggest.
I was expecting a big decrease this year according to what I’ve seen on lemmy. From now on, I’ll read negative news and say “meh, probably not.”
It isn't just lemmy, there's plenty of external evidence showing that people think the economy is in a bad state. Changing your entire perspective because of big spending day on black Friday makes no sense.
Not just a big spending day, an all-time record-breaking spending day, up 7.5%. That’s absolutely insane and doesn’t jive. If everyone is hurting, can’t pay their rent and bills, credit is maxed out, then how did they also crush this record on inflation-priced “sales?”
All I’ve said, I’m choosing to go by data, not news agenda. BF helped me realize our economy is thriving. That’s great!
If prices are up because of inflation by 20% and you sell 7% more than you did last year then you actually sold less.
Same way every movie breaks records. They charge $20 for a ticket when it used to be $6.
You would need to see spending for the year to say anything definitive. They could all be pinching pennies waiting for deals and not spending normally the rest of the time.
We don't know.
Also that number is online only and could just be again more people bought online than in person, meaning overall spending can atill be down. But also yeah inflation of prices really lets it look like each year is better even if you have less buyers overall.
Its a game of perspective. That people and corps are bery careful to play or else the casino runs dry.
Wealth gap. What you are actually saying is everyone is being squeezed, allowing corporations to sell less and make more.
This is why I’m kinda pissed off about it all. Americans all went shopping and kept spending as per usual, which allows corporations to report “green” to investors and continues to allow unbelievable CEO / executives wildly insane pay to continue.