BlackPhx
Posts: 3432
Joined: 11/8/2006
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Black Friday and Cyber Monday are a start and the traffic and sales were up over last year. Most of the shoppers were not those in foreclosure or bankruptcy but people who saved for the holiday season, who take the time of discounts to stretch their buying power and to have something under the tree. Many maintained the discipline of the Christmas Club Account (remember them?) and salted away, some like Master and I also take advantage of 0% interest 0 Payments for a determined length of time and invest the money that would be payments into stocks or interest bearing accounts, taking a small profit that can be rolled over to the next project or gift season. We did that with the replacement windows for our house, the money from the state grant is earning interest while our portion grows as we put away the payment each month for the year of the 0% interest 0 payment loan. That loan will be paid off before the due date and the profit reinvested in our next project (the bathroom tub needs to be replaced therefore keeping a plumber and a tile company another day). The lap top I am posting from was bought that way and a portion of the incentive Bush sent out is growing to make up the other half. We have one credit card and never let it get higher than we can pay off immediately if a disaster happens.
But every dollar that is spent is cumulative and can help a store stay open 1 more day, keep food on the table for 1 more family. We have funiture stores here that are offering 0/0 until 2014, BUT they will move product, keep someone employed and get paid, because the finance companies will pay them and hope that you default and have to pay the catch up interest. If you have the discipline it is a good way to buy even in these times, just don't over extend. Those loss leaders get people in the stores and people will impulse buy or up-buy. meanwhile that item is not sitting in the warehouse gathering dust until sold to a liquidator.
We recycle (recyclers employ people and the products they collect go to manufacturer to use to make items that will cost less die to recycled materials and employ more people), Freecycle ( if it is good enough to stay out of the dump, that is less environmental impact and helps someone else..) and renovate rather than buy, until we are in a position to build exactly what we want. Meanwhile we are keeping contractors, manufacturers and service people working.
That is how this economy will get healthier, the same things that your grandparents did during the depression. Save, use it up, fix it, pass it on, or do without.
Oh and PaHunk..you can make bread in a Dutch Oven over your hot plate. Mix it the same way you would for a oven , place a pie tin or something in the bottom of the DO and bake covered. Bread only needs the heat to reach all areas to bake. I made bread and meals over a hibachi during the 2004 hurricanes. You may also want to look up a recipe for Naan.
poenkitten
P.S. Obama has already said it is likely to get worse before it gets better, not only here but around the world.
< Message edited by BlackPhx -- 12/1/2008 10:07:23 AM >
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RE: Early data shows strong Black Friday shopping - 
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