Every year, America’s retailers rely on the Friday after Thanksgiving to get back in the black in terms of profits. But this is the year of hyper-Keynesianism and America, Bailout Nation, requires that everyone spend, spend, spend – more than usual – to compensate for low retail sales the last couple months, so we are told. The banksters and their politico partners in crime say we must borrow and spend our way out of their crisis. Obama now says deficits don’t matter again: The patriotic duty of all is to spend.
But Americans know it is recession, and expect inflation. They will save today, despite the holidays. They will be more fiscally conservative than the state that represents them. And so today may be a Red Friday after all, one the politicians will hate but one that will indicate an ultimate recovery faster than would happen if we all listened to the Keynesian Ghost of Present Gratification.11:23 am on November 28, 2008 Email Anthony Gregory