At the Mall:
Amid the hype about "foot traffic" and "parking lots" there is little in the way of actual spending going on.
Now Walmart is 'fessing up that retailing basically stinks. But why?
Most retailers have noticed a trend in customer buying that seems to indicate that they are living paycheck to paycheck and that the credit cards are nearly full.
This appears as BIG SPENDING AT THE BEGINNING OF THE MONTH, as Social Security and SSI and Disability Checks come out.
But, BIG DROPS AT THE END OF THE MONTH, as people run out of money, before their next check arrives and as they save money for first of the month bill paying.
IN SHORT, THE LAST WEEKEND OF ANY MONTH STINKS NOW!
AND THAT INCLUDES THE LAST FRIDAY IN NOVEMBER---OUR SO CALLED "BLACK FRIDAY."
Additionally, Gas Prices have shell shocked many people. And the heating season is looming ominously---with some early cold snaps providing a preview of what's to come.
Many tenants get evicted or move about the time the second big heating bill arrives! And a turn off looms. Go figure! They'll move in with mom and dad, or friends, and wait for the warm weather to return; before getting back into the rental market. Any landlord with a vacant apartment on December 1st, might just have to wait till spring to get a tenant nowadays! Unless the apartment is in Yuma, Arizona!
Finally, the DOLLAR STORES AND THRIFT SHOPS seem to be booming, right along with TIFFANY'S AND NORDSTRUMS!
NET NET;
MANY MID-LEVEL RETAILERS, LIKE WALMART, TARGET AND SEARS ARE GOING IN THE RED ON THIS BLACK FRIDAY!
SO, MORE "MERGERS," AND A FEW BANKRUPTCIES AFTER THE NEW YEAR?
Of course!
Per usual......look for the Black Friday gloom to surface early next week, with a chill wind blowing down Wall Street.
