With Halloween behind us I am seeing that all of the stores(Walmart, Target, Kmart, etc.) have already broken out the Christmas decorations. This is getting consumers prepped early for spending $$$ on gifts for friends and loved ones right now. People will be breaking out their Visa's and MasterCards to go their spending spree. I see only good things for these two credit card companies over the next couple of months.
It is true that most stores already have Christmas items put out for sale, but I also personally know a lot of people at work that are cutting back on buying presents this year due to the cut back from furloughs. Also, I doubt people that are jobless are going to be buying much this season either other than things that they need. The only ones that i can see going on a shopping spree are the people that still have a job or business. Just doesn't seem like it will be any better compared to last year since jobless claims is higher than before.
Thank you for your input! I agree that those without jobs will not go out on any shopping spree. However, what I am seeing is blow out earnings at Apple(people purchasing ipads, ipods, iphones, etc), Starbucks, etc...these are items that go above general needs and into the realm of wants...and it seems like there are a lot of people willing to shell out a lot of money for their wants.