As per usual, we see a mad rush on an increasingly intrusive ‘Black Friday’ sales mania that grows worse and worse each year. This year, many retail workers were forced back to work on a Federal Holiday (sic) due to frantic corporations needing this big, false boost in sales so their stocks would go up. As workers are forced to have little to no holidays increasing their social isolation, businesses cling to Santa Claus to give them better sales records. The production turning Santa Claus who took care of the poor into a corpulent corporate labor abuser has been slow but steady with the entire horror show reaching global levels of distress.
Headline Story | equities.com: 1,000 Walmart stores were hit by labor protestors on Black Friday. Walmart boasted that only 50 brave employees dared to protest. Of course, protesting leads to losing one’s job! And Walmart had ‘best sales yet’ by giving away Asian goods at virtual cost. Once well-paying union jobs vanished, everyone has to rush to sales to buy things they can barely afford on their new, much lower incomes. This is the basic dynamic behind importing Asian goods: the workers there earn very little so it is quite profitable for dealers here.
We see in these videos basically Americans who have sent most of our jobs overseas storming stores across America in the middle of the night to purchase basically mainly Asian goods. Each of these buying frenzies make our trade deficit worse, of course. Here is a graph I have amended with my own comments showing how this yo-yo Xmas economy is destroying our mercantile system:
In just two decades, this jumpy annual ritual of sales has grown in size greatly. But the boost this gives is steadily dropping. In 1990, Xmas sales were double annual sales in January. Now, the total sales are much bigger than total sales in 1990 but the differential between the peak and the nadir is much smaller relative to sales than in 1990.
In other works, the growth of these annual sale bursts is declining relative to general sales. Even so, this lopsided sales system is very destructive for workers, for foreign labor, for the US economic system. Along with the massive, tremendous growth in gambling, this is suicidal business practice. Since 1990, the ‘Black Friday Sales’ have grown longer and longer in hours and produces only limited gains in sales since most of what people buy are mainly foreign electronics.
Parades of increasingly marginalized Americans rush to buy the biggest entertainment systems they can afford on credit and then go home and immerse themselves in an unreal fantasy world while neglecting children, neglecting their homes, and of course, going slowly insane. We see this in Asia where living conditions in the cities are even worse than in America with the population slowly losing their grip on reality as they run away from the reality of living in social isolation in anonymous giant cities.
Fitch cuts ratings on Panasonic, Sony to junk status: In Japan, the electronics industry is dying. An attempt at getting out of this pit, Sharp, another Japanese electronics firm, tried to sell themselves partially to Hon Hai, the demonic, cruel Taiwanese corporation that exploits mainland Chinese labor (Taiwan is a US ‘friend’ of course!) has failed. All the Chinese whether Taiwanese or mainland, are turning on the Japanese and are punishing them for being more imperialist. And talking about getting nukes to aim at China has greatly worsen things in this diplomatic disaster brought on entirely by desperate Japanese elitists.
Japan posts worst October trade data in three decades while in desperation, Japanese brands fend off rivals at China auto show due to the fact that the US has ceased being the world’s biggest auto market. The US still doesn’t understand what this means to us consumers. We will be increasingly sidelined as time passes because we will eventually be less than half the size of the Asian market in China.
The Chinese consume year round so far and haven’t fallen into the Xmas trap. Xmas sales are very much like ZIRP: it is hard to exit once all systems are set to go crooked. It can only see the ups and downs grow greater. Again, at the chart above, we see the swing between Xmas and January sales are much worse after 20 years even as this is smaller overall compared to the base. That is, it is less powerful but still is swinging things too hard.
The best system is one that AVOIDS violent swings. Because the 1990 model of doubled sales is the Holy Grail of businesses, they struggle to recreate this every year more and more thus the spreading of these hysterical sales that make the stocks of these corporations go up (by lying about sales pretending these are profitable when they are not) in time for Xmas bonuses on Wall Street.
Americans have less and less to spend on toys. And the Xmas spirit is quite dead. Virtually all the buyers on Thanksgiving night were buying for themselves. This is just unbridled greed and hysteria. Not gift giving. And much of what passes for Xmas gifts are unwanted or unneeded. Before the 20th century, this was a feast day, not a shopping manic event. Feasts are social occasions. Shopping mobs are selfish and anti-social.