Is it the Most Wonderful” Time of the Year? Christmas Shopping Madness.

With Christmas just around the corner many of us have started our Christmas shopping. This past Friday was Black Friday, an American holiday in which retailers price merchandise extremely cheap for an inventory clear-out. This year marked a dramatic increase in consumer spending since the economic recession in 2009.
The economic recession took a toll on many families, with plenty of people losing jobs and homes. Many retailers went out of business leaving a few retailers in the current market. Private equity firms are now supporting retailers with strong brands and there is a foreseeable profit growth as the recovery from the recession grows. With just the car industry alone adding 20,000 more temporary jobs this October this Christmas season is deemed to be more successful than last years.
However there are still many Americans, approximately 40%, who are still struck by the economic recession. Despite these sales many Americans can still not afford to participate, even with goods at rock-bottom prices. The recession has left many in devastation and continues to be prominent throughout the world. Even though consumer spending has dramatically increased this year, it has failed to be spent by those most in need.

http://www.economist.com/node/17575005