In all, Americans are expected to spend about $680 billion this holiday season, marking a 3.6 percent to 4 percent increase from last year’s $655.8 billion, according to estimates released Tuesday by the National Retail Federation.
EC COMMENT: While this article refers to a UK market, the same tactics are being used for any "huge retail sales event" in the West. Very often, on those days, people buy things they wouldnt usually do if at full price or do not really need. Westerners are literally spending themselves into oblivion. Let's also not forget that 78% of Americans are now living paycheck to paycheck as stipulated in a previous blog
Several years ago, even Brazil which is the biggest economy in Latin America spiraled down due to rampant corruption, Brazil also Showed How Too Much Consumer Debt Can Threaten An Economy. MSM does not speak much about the EU debt crisis anymore because ECB (European central bank) had injected cheap money at a rate of €60bn a month. This means that Europe has created more or less 1.4 trillion euro in NEW debts over the last two years. Does anybody see the absurdity here?
When the consumers max out their credit cards, get deeper into debts, the better for the economy... Moreover, where are Americans going to find $680 billion?
Credit card debt enslaving the American consumer - Washington Times
U.S. consumer credit surged in April as Americans ramped up their use of credit cards, a potentially positive sign for consumer spending.
America's $1 trillion in credit card debt is terrible news (thehill.com)
Credit card fees are out of control for millions of Americans
UK credit binge approaching levels not seen since 2008 crash ...
Canada's household debt is now bigger than its GDP
Starting January 2017, this blog will only post once weekly to focus on its movie channel, Earth Custodians are on a mission and looking forward to donations as opposed to earnings deriving from competition. Its materials will be accessible to truth seekers because in the long run competition alienates. The world debt situation is the evidence that this model must be abandoned.