1

But the sales boost during the post-Thanksgiving shopathon came at the expense of profits as the nation's retailers had to slash prices to attract the crowds in a season that is expected to be the weakest in decades.

They've been running the same exact story since Bush took office! Every year it's 'sales are up, but profits are horrific because of deep discounting and we're all d00med!!'

I wonder if they ever actually read what they write, year-on-year, and wonder if maybe, just maybe, they tire of being wrong (and/or flat-out lying) over and over and over again.

2 I'm gonna wait for Allahpundit to tell us why this is actually horrible news. 

3 ECM;

Naw. They are reflexive.

If profits are up, then volume is down, and we're screwed. If the obverse happens, we're screwed. But Obama will fix all of that.

Kinda like the WalMart meme:
If Walmart is up, it's bad because people are so rapesed by teh evil baby rapesers that they can only shop there, and we're all doomed. If Walmart is down, the economy is in the shitter because people can't afford to shop anywhere and are just eating from trash cans.

4 Vinty:

Heh.

Allah won't write about it, instead waiting to put a one word defeatist witticism under a picture of a store, and then just linking to an article Malkin wrote about it.

Or, are we supposed to lay off of Allah, since his 2003/4 Photoshops  were Teh Awesume!!!11!!!

5 I'll lay off Allah when he stops being such a bitch about religion.

6

For thinking people, the effect of Black Friday is seen as mostly neutral.  It tends to simply move the time-frame on spending, rather than have much impact on total spending.

A better predictor for the holiday season is general trends in spending, and those are down.  This isn't doom, it's just common sense.

Mindless economic boosterism (think Kudlow) is just as bad as mindless eyorism (think most everyone else in the MSM).

7

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