'Twas the Week After (Black) Friday...

(A macroeconomic take on a famous holiday rhyme)

'Twas the week after Friday, the one they call Black
and the numbers said holiday spending's on track.
And of course, Cyber Monday contributed more,
with items on websites and bargains galore.

The hope was widespread for significant spending
to give needed traction to an economy still mending.
The sales of the gadgets and baubles and bling
were intended to make the cash registers ring.

The shoppers came out and the lines were quite long
and Internet purchases also were strong.
Overall, a good start to the holiday season;
the experts said pent up demand was the reason.

But some of those experts expressed some concern
about all of the spending. And what did we learn
from this last global crisis, all the borrowing and lending
to feed jacked-up business and personal spending?

Responsible spending should not make one fret,
but too much can cause us to fall into debt.
Those bills will come due soon and some folks haven't learned
it's not good when the outflow exceeds what you earn.

Wait! Credit card usage is down from last year,
and with cash being king, it might be that the fear
of the holiday debt bomb is way overblown.
They've cut up the plastic, they've paid down their loans.

So maybe, just maybe, consumer behavior
will help fix the downturn--the economy's savior.
Higher sales, higher profits should lead to more hiring,
reducing the layoffs, downsizings and firings.

Economic expansion, improved GDP;
sustainable growth--all these things they could be
the result of the shoppers like you and like me
who bought all those goodies for under the tree.

So get out and buy things with cautious delight,
and Merry Christmas to all and to all a good night.

Mike Hoban is a senior consultant for a global talent management consulting firm and can be contacted at business-at-large@sbcglobal.net

Add New Comment

0 Comments