Thursday, November 22, 2007

Black Friday

Black Friday is a term invented to refer to the day after thanksgiving in which retailers sponsor the most hideous bloodsport ever: Christmas shopping. This tradition has been able to put retailers "in the black" for the period, hence the name.

This is the single most important day for retail, and also a strong indicator of how the economy is doing. A weak day could put markets into a spin. With the volatility already prevalent on Wall Street for the past 6 months, I think we will see just that. To what extent I am not sure, but I think by now its so obvious even CNBC cannot deny it: we are suffering.

The dollar is still falling

Wall Street is down

And Black Thursday will suffer too. It has been predicted.

No comments: