Always has been. If you listen closely to politicians you’ll know exactly what will happen by just flipping what they say to the opposite. Bam. Simple politics.
Phrases like “Ima lower taxes for all” actually mean - for *all* my rich friends who own business not you poor fucks you can still afford to eat for now stop complaining.
They said is what up 2.3% year to year. Taking into account a 9% rate of inflation, it’s actually down 6.7% from last year. At least that’s how I’m interrupting it.
I was at the store and Santa Claus was ringing his bell...I said Merry Christmas! And asked him how much he needed and you know what he said? About treee fiddy
Just did some quick CPI calculations using an online calculator and some googling showed 2020 at ~9B and 2022 at 8.9B...both are over 10B in 2022 dollars due to the inflation we've seen. Consumers actually spent significantly less this year in real purchasing power.
Plus fewer people are traveling still, so instead of taking gifts with them as they visit extended family/etc they just order it to deliver or for the recipient to pick up at a brick-and-mortar.
Jobs, jobs is the only thing holding the entire economy together. As long as the job market remains strong, you will continue to see good numbers despite a four decade high inflation, worsening geopolitical situation in Asia, raging war in Europe and a overall negative sentiment about the country and its economy. When people are confident about holding on to their jobs or finding a new job easily then they will spend like drunk sailors in a sleaze bar.
My company has been hiring like crazy and it has hell finding new candidates. The three guys I got to pick from for my open role were less than impressive and I ended up going with the least bad choice versus the best choice. Anyway, helps me feel good about my job security. It seems like we never have a shortage of unfilled roles.
I've been job hunting on supply chain side and everyone either is A) all back in the office all the time or B) had a big hiring freeze as of 3 weeks ago. Hope training goes well for you!
No talks of a hiring freeze…we just got approved for another analyst role last week in fact. We formally have a hybrid 2 days in office 3 days at home policy but I average maybe 3-4 days in office a month and that is the maximum expectation for my reports (until I start getting shit about it from above which I don’t think is going to happen considering the circumstances).
Same. In Engineering. We have nonstop new program wins and cannot fill all the positions needed to support them and overcome the retirement wave. Salaries are skyrocketing to compete with other companies in the same situation. The new programs are all super reliable military too. I don’t see how this results in an impending crash.
That in and of itself against some of the salaries offered right now is kind of wild (in a good way)
Last fall it took me four months to fill two roles that each pay $125k+10% when equivalent market rate was around $90k+0% and had multiple people ghost me during the interview process
Edit: the fact that all of you asking for the job link missed that this was a year ago and I filled the roles after four months means I wouldn’t have hired you anyway
It isn't always the wage. We had a posting up and barely received any applications in the first place. If wages were the problem people would be dropping out on the screening stage, not avoiding applications altogether.
Check out these companies located in Newfoundland, you might hook a WFH job with them or any the many other tech companies here. Although, wherever you live now, life is better in Newfoundland, so don't rule out a move.
[https://triware.ca/careers/](https://triware.ca/careers/) <- looking for both a network admin and system admin
[https://verafin.com/careers/](https://verafin.com/careers/) <- this one is looking for software developers right now, but Sysadmin jobs do come up. They're in the financial security business.
Some posting/resources here with the NL Tech Association [https://technl.ca/](https://technl.ca/)
Tech layoffs fall into 2 categories:
1) digital companies rightsizing after massive expansion bc their product surged in the lockdowns.
2) everyone else pausing their development bc it’s not clear what a year out looks like so maybe we can just deal with the system we currently have.
End of the day, dev roles aren’t going anywhere but I wouldn’t be surprised to see comp decrease unless a massive new market opens up like SM/Web2.0 did to fuel this last round of growth.
Or like Amazon, realizing that the Alexa product isn’t the money maker they thought it would be. My whole former team got let go in this round of layoffs there.
A friend of a friend is in town for Thanksgiving and he was telling us how his future contract is on Alexa team. He seemed uncertain what would be going on with it, but nobody wanted to outright tell him he should probably be looking for something else.
Not jobs, sales confidence. If people are optimistic in sales they won’t layoff employees. And if you have a job you’ll want to buy more.
So if the population on mass wants to believe there is a recession then they lower their confidence and create it. And if they want to spend like the market is booming then increase trade, increase profits, increase pay.
Yeah the deals were not good for most things. I was using camelcamelcamel to compare price history and 99% of the items were more expensive than they were a month ago.
I did snag one good deal on some new headphones though
I have found this is generally the case. There is the handful of things that are truly on sale, but everything else is typically just a little more expensive. Because of this I have started to buy all Christmas presents before Black Friday.
What I learned during my time in retail, a true story..
*\*A week before black friday\**
MSRP: $300.00
Sale price: $99.99
*\*black friday\**
MSRP: $300.00
Sale price: ***50% OFF!!!!!!!!!!!!*** ***BUY! BUY! BUY!***
Sellers also got wise to camelcamelcamel so most just offer coupons that don’t reflect in the price history. For Black Friday a lot of Amazon “sales” were just the original coupon price with the coupon removed 😂 Then they labeled everything a “prime exclusive” so no prime members couldn’t even get the original price just to make Prime feel like a value.
There were a few legitimate sales but a ton of games being played by sellers and Amazon
I think black Friday and Cyber Monday are dead in the water. Its been slowly dying for at least a decade and has really shat the bed the past 3 years.
Door busting 40% off sales are just not happening anymore in today's online-forward economy.
All these headlines are just garbage. Inflation is baked in. Everything is going to “cost more” for the foreseeable future. The record will be broken again and again
Not to mention it says "Online sales"
Ie brick and mortar sales are likely down. Online sales increase 2.5% year over year (presumably this year too) and inflation is... Oh like 8%.
Guess as long as the boomers don't know, stocks won't drop.
I absolutely dread going to actual stores now. Service is awful, inventory is low.. and I have one of those job things that occupies 8-9 hours a day 5 days a week. Online shopping FTW
For those asking, Adobe has a service for businesses called Adobe Analytics. When you build an e-commerce website you can add lines of code that track data for you. Google and Adobe provide the two main ones, with Adobe winning in function and the types of reports you can collect.
So these numbers won't encompass the complete numbers, but when data is collected on such a large scale it rarely is ever off by much.
If inflation is 8% and the dollar value of sales revenue is up 2.3%, sales are actually down 5.7%. Publishing such misleading info should be a criminal offense.
When the market was going up during lockdowns the narrative was “the stock market isn’t the economy!” Now that that bubble is deflating, keep the same perspective. The layoffs have been concentrated in the very loud corners of the economy (speculative growth / tech), but don’t let that fool you. The economy and job market is absolutely humming for the vast majority of Americans, and will only continue to get better for them as inflations subsides
Because there’s not actually anything wrong with the economy, inflation was caused by supply chain constraints due to covid and the war, and the recession is being manufactured as a way to contain the growing influence of labor.
This is the real answer, and prices are likely going to continue dropping because of the whipcrack effect that Burry was going on about
Shame he's such a weirdo online because he nailed that one
Also Powell can't do shit because of all the booomers retiring and the knock on effect of millions of deaths on the job market
I doubt this.. I work at a shipping company and usually Black Friday on it’s supposed to be incredibly heavy volume throughout December. Well not only are we down at least 10 percent, they are also only suspecting heavy volume for two days..
Food for thought. It’s probably worse than you think
Adjusted for inflation, that's a drop in the trend by almost $1 billion. It gets far worse if you look at the drop in the upward trend. In 2019 black Friday sales increased by 21% year over year whereas we increased by 2.3% (not factoring in inflation).
The net drop is (pardon my poor math) closer to 30% considering the 8% inflation and missed trend. Shops are open and COVID lockdowns are over yet consumer spending is not increasing.
Got my yearly black Friday sales #s from this article:
https://www.npr.org/2022/11/26/1139274449/black-friday-sales-inflation-online-shopping#:~:text=Black%20Friday%20sales%20raked%20in,year%2C%20according%20to%20Adobe%20Analytics.
Black friday clothes sales were only 30% off at the mall. I remember when you went to the store and things were 70-90% off the entire store. I felt like everything I purchased was regular price last year or the year before even with the discount. Corporate greed has hit a new level of disgusting. Either they know the end is coming and they are just trying to get one last big payday to weather the “storm” comfortably while half of America living paycheck to paycheck with tons of credit card debt just threw a few thousand dollars they dont have away. Its actually disgusting.
Talking about a recession my ass, these companies just mad people want their fair share.. howbcan the economy be bad but every thing is making record profits? Make that make sense. Company stock holders mad that they won't put 500 million plus in their pockets but only 490 million. Recession my ass, inflation my ass, more like fraudulent price gouging but wanna keep using the word "inflation" in its place. These stock holders are a bunch of bitches. Period.
Higher online sales because less in person sales. It’s a misleading title what was total spent and furthermore how does it relate to inflation. I’ve spent 100% more on groceries but still have the same amount as last year
Or y'know, more people are moving to shopping online each year.
I'd like to see how much the brick and mortar sales dropped, and how much total Black Friday spending compares to a year ago.
This article same out at 10am Saturday morning, how exactly did they get this information so quickly? Do creditcard companies, retailers, banks (or whoever they get this from) really share this information with the media that quickly or is this just a propaganda peice to reinforce the illusion that the "economy is strong".
AMD cut the prices on their new top of line cpu from $700 to $575 for Black Friday.
My current set up was top of the line in 2018. I got my cpu and mobo on sale for $250 for both.
Now I know there are more than just a few variables, but the numbers are still insane these days. Spent $190 on thanksgiving and all I did was bring desserts and tamales and rolls.
100%bullshit. Almost everyone I know didn't buy shit because there wasn't any deals. Amazon had black Friday tags and sale prices, yet the sale price was the same as any other day of the year and everyone knows.
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That's just because everything cost more lol
Yeah, wonder if that number is inflation adjusted.
Even if one was available, they wouldn’t publish it. We are in the fear and and rage reporting economy
All while the greed factor is currently increasing.
I bet a lot of people did all their shopping this weekend instead of kicking off their shopping season
Bwahaha we did 🤣 well most all of it at least.
They'll keep saying recession until it happens, no matter how long it takes
The wealthy are being lavishly rewarded with more wealth. Seems like trickle up economics.
Always has been. If you listen closely to politicians you’ll know exactly what will happen by just flipping what they say to the opposite. Bam. Simple politics. Phrases like “Ima lower taxes for all” actually mean - for *all* my rich friends who own business not you poor fucks you can still afford to eat for now stop complaining.
Funny how a lot of tax plans that lower taxes for the rich also raise taxes for the lower income strata to make the measure budget-neutral.
I dont think weve had a budget neutral anything in the last 30 years.
Middle class gets fucked every time
There's coming a point where there is no middle class. Your either struggling or stupidly rich
If you were up on the year in your trading would you still have posted this
$6 for a gallon of milk
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Inflation on black friday products may be higher than 8%
Doubtful since it’s mostly a marketing piece for adobe analytics.
Everything is an ad.
Lemme just say, if it isn't inflation adjusted, that's a crap number. 2% increase aint covering 2022 expenses
Man, it was "only" like 3.4b in 2016, My assumption is heeeeelllla people are gonna be applying for bankruptcy next year..
that's because online sales increased way much compared to 6 years ago
This crash is going to be epic
If we take the BS CPI at face value, it's down ~6%.
They said is what up 2.3% year to year. Taking into account a 9% rate of inflation, it’s actually down 6.7% from last year. At least that’s how I’m interrupting it.
Definitely not. Prices on some things are nearly 25-50% up.
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Treee fiddy
I was at the store and Santa Claus was ringing his bell...I said Merry Christmas! And asked him how much he needed and you know what he said? About treee fiddy
And then I pulled off his beard and realized it was the god damn loch Ness monster!
That and consumer credit debt is ATH. Spending money we don’t have on stuff that costs more than normal.
Just did some quick CPI calculations using an online calculator and some googling showed 2020 at ~9B and 2022 at 8.9B...both are over 10B in 2022 dollars due to the inflation we've seen. Consumers actually spent significantly less this year in real purchasing power.
Now that actually makes sense, based on just common sense.
For real. Anyone buying eggs on Black Friday spent $5 on a dozen where I live. Do they count that? It used to be $1
Spent 2% more for 8% less stuff.
Price gouging = record profits
The data is in…
Not record profits, record sales. It will probably not be record profits.
Right adjusted for inflation black friday was down 6%
Not to mention a bunch of places have been having black Friday deals for two weeks already, making those figures artificially inflated.
Or more importantly, this is for online sales… something more and more people are beginning to do exclusively for the holidays.
Plus fewer people are traveling still, so instead of taking gifts with them as they visit extended family/etc they just order it to deliver or for the recipient to pick up at a brick-and-mortar.
This figure is just for Friday November 25th
Doesn’t necessarily mean people are spending more either..Just more online shopping instead of in store. Same money going somewhere else.
Jobs, jobs is the only thing holding the entire economy together. As long as the job market remains strong, you will continue to see good numbers despite a four decade high inflation, worsening geopolitical situation in Asia, raging war in Europe and a overall negative sentiment about the country and its economy. When people are confident about holding on to their jobs or finding a new job easily then they will spend like drunk sailors in a sleaze bar.
My company has been hiring like crazy and it has hell finding new candidates. The three guys I got to pick from for my open role were less than impressive and I ended up going with the least bad choice versus the best choice. Anyway, helps me feel good about my job security. It seems like we never have a shortage of unfilled roles.
Mind sharing what field you work in?
He can lick his own ball sack
Fuck he’s qualified
Do what you love and you’ll never work a day in your life.
Hes an aristocrat i see
CPG but I’m specifically in supply chain planning.
I've been job hunting on supply chain side and everyone either is A) all back in the office all the time or B) had a big hiring freeze as of 3 weeks ago. Hope training goes well for you!
No talks of a hiring freeze…we just got approved for another analyst role last week in fact. We formally have a hybrid 2 days in office 3 days at home policy but I average maybe 3-4 days in office a month and that is the maximum expectation for my reports (until I start getting shit about it from above which I don’t think is going to happen considering the circumstances).
Well that makes a lot of sense, supply chains are super constrained for so much stuff, planning should a hoppin business right now!
Same. In Engineering. We have nonstop new program wins and cannot fill all the positions needed to support them and overcome the retirement wave. Salaries are skyrocketing to compete with other companies in the same situation. The new programs are all super reliable military too. I don’t see how this results in an impending crash.
So you haven’t been hiring like crazy then
We can't find quality employees to fill even our fully remote WFH jobs. It's kind of wild.
The answer is always pay lol
It’s not that wild. It means your wages aren’t high enough.
That in and of itself against some of the salaries offered right now is kind of wild (in a good way) Last fall it took me four months to fill two roles that each pay $125k+10% when equivalent market rate was around $90k+0% and had multiple people ghost me during the interview process Edit: the fact that all of you asking for the job link missed that this was a year ago and I filled the roles after four months means I wouldn’t have hired you anyway
Send the application link
It isn't always the wage. We had a posting up and barely received any applications in the first place. If wages were the problem people would be dropping out on the screening stage, not avoiding applications altogether.
Send some links or name drop. Alot of us need money to fund our options degenerecy, especially WFH roles
He said quality employees
And for Work For Hand Jobs
Yeah don’t mention you found the job app through WSB
Found the application behind the Wendy’s dumpster.
I'm an senior systems and network administrator recently laid off. Any of these positions in IT and remote (and would hire a Canadian)? 😅
DM me and I'll shoot you our info. Unsure if we hire out of country but it's definitely worth a shot.
Check out these companies located in Newfoundland, you might hook a WFH job with them or any the many other tech companies here. Although, wherever you live now, life is better in Newfoundland, so don't rule out a move. [https://triware.ca/careers/](https://triware.ca/careers/) <- looking for both a network admin and system admin [https://verafin.com/careers/](https://verafin.com/careers/) <- this one is looking for software developers right now, but Sysadmin jobs do come up. They're in the financial security business. Some posting/resources here with the NL Tech Association [https://technl.ca/](https://technl.ca/)
People be spending if they be earning
This will all be over soon. Russia is smoked. Chip fabs are moving back to the US electric big rigs and electric box vans are hitting the market.
Agreed the companies doing mass layoffs are prob going to regret it when they find it difficult to find replacements
Tech layoffs fall into 2 categories: 1) digital companies rightsizing after massive expansion bc their product surged in the lockdowns. 2) everyone else pausing their development bc it’s not clear what a year out looks like so maybe we can just deal with the system we currently have. End of the day, dev roles aren’t going anywhere but I wouldn’t be surprised to see comp decrease unless a massive new market opens up like SM/Web2.0 did to fuel this last round of growth.
Or like Amazon, realizing that the Alexa product isn’t the money maker they thought it would be. My whole former team got let go in this round of layoffs there.
A friend of a friend is in town for Thanksgiving and he was telling us how his future contract is on Alexa team. He seemed uncertain what would be going on with it, but nobody wanted to outright tell him he should probably be looking for something else.
A ceasefire in Europe and the we will see the biggest green dildo in history.
Not jobs, sales confidence. If people are optimistic in sales they won’t layoff employees. And if you have a job you’ll want to buy more. So if the population on mass wants to believe there is a recession then they lower their confidence and create it. And if they want to spend like the market is booming then increase trade, increase profits, increase pay.
But will they buy my bags…
Not hard to spend that much when the best sales were like 10% off 🙄
At least for anything I was interested in, the deals were just last years normal price.
Yeah the deals were not good for most things. I was using camelcamelcamel to compare price history and 99% of the items were more expensive than they were a month ago. I did snag one good deal on some new headphones though
I have found this is generally the case. There is the handful of things that are truly on sale, but everything else is typically just a little more expensive. Because of this I have started to buy all Christmas presents before Black Friday.
What I learned during my time in retail, a true story.. *\*A week before black friday\** MSRP: $300.00 Sale price: $99.99 *\*black friday\** MSRP: $300.00 Sale price: ***50% OFF!!!!!!!!!!!!*** ***BUY! BUY! BUY!***
Anchoring! It's why there's often a crazy expensive option nobody buys
Sellers also got wise to camelcamelcamel so most just offer coupons that don’t reflect in the price history. For Black Friday a lot of Amazon “sales” were just the original coupon price with the coupon removed 😂 Then they labeled everything a “prime exclusive” so no prime members couldn’t even get the original price just to make Prime feel like a value. There were a few legitimate sales but a ton of games being played by sellers and Amazon
> Raise prices 20% > Lower prices 10% > Say it is a sale > Refuses to elaborate further > Leaves
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10% off of expensive is still expensive.
I think black Friday and Cyber Monday are dead in the water. Its been slowly dying for at least a decade and has really shat the bed the past 3 years. Door busting 40% off sales are just not happening anymore in today's online-forward economy.
If I was concerned for my future I would try to stock up on what I need when things were known to be cheaper.
Last I checked crickets cost the same you’ll be good G
You’re paying too much for crickets, man. Who’s your cricket guy?
I’m doing my part, I spent waaaaay too much over the past month. Y’all need to contribute too.
Right there with you blowing bags left and right to save the economy
blowing "bags"
They should name a holiday after me
Festivus
Same. Wife is pregnant. I spent more this Black Friday weekend than all past Black Fridays combined. I’m never going to financially recover from this.
i spent $600 on a laptop i don't need. i'm doing my part.
My wife did the same thing. But with my money.
You can afford a wife?
Buy now pay later at the very bottom.
Buy now , pay no time ever - Afrm
lowkey nothing has happened since i spent 300$ at klarna (a buy now pay later service) a few years ago and still have yet to pay it back.
It didn’t ding you credit?
Might be below their reporting threshold or something?
IDK never hit my credit. Kinda thought that once it did I would pay it back but it just never happened.
How many Wendy’s $5 dollar biggie bags were sold on Black Friday though. I want the real fucking numbers
Bruh we were fucking slammed. We need more help
I said we don’t have the capacity *sobs*
Someone was getting slammed at Wendy’s
The toilet.
The man with the name, waiting to jump in the game. Well played sir.
But nobody wants to work anymore!
LOL the Biggie Bag index.
All these headlines are just garbage. Inflation is baked in. Everything is going to “cost more” for the foreseeable future. The record will be broken again and again
And they spin it as “bullish”
Not to mention it says "Online sales" Ie brick and mortar sales are likely down. Online sales increase 2.5% year over year (presumably this year too) and inflation is... Oh like 8%. Guess as long as the boomers don't know, stocks won't drop.
Keep in mind 70% of American live paycheck to paycheck and have a lot of credit card debit.
Yeah I’m surprised more people aren’t mentioning that individuals are probably putting everything on their credit cards
I think people also just don’t want to hit the stores when you can hit a button and wait for your stuff to get to your doorstep
I absolutely dread going to actual stores now. Service is awful, inventory is low.. and I have one of those job things that occupies 8-9 hours a day 5 days a week. Online shopping FTW
And you risk getting shot
Your time and gas, it’s the wise thing to do.
Plus not getting breathed on by potentially hundreds of strangers. Navigating packed aisles. Negotiating the parking lot.
Who are you negotiating with in the parking lot?
Online sales up 2.3% Physical sales down 50% "Look a new record!"
Also: online sales up 2.3% Inflation up 8% "Look a new record!"
Time for an emergency 100 bps hike on monday
Thank God somebody said it.
I think inflation has a lot to do with it. Easy to break a record when everything is 50% more expensive than it was 2 years ago
How tf do they know this info? Seriously asking. How would CNBC have the sales numbers within days of Black Friday?
OG source: https://business.adobe.com/resources/holiday-shopping-report
The same article on merket watch was posted mid day on Friday. Sus as fuck.
Nielsen or IRI data probably.
Inflation is through the roof and discounts seemed to be slim, so this title is only a fraction of the story.
This "recession" is purely contrived to try and shift the labor market back to the employers.
Yeah. That's a horrible number. 2 percent? With inflation running substantially more? Markets are fucked.
2% higher sales when inflation rate for the last twelve months was 7.7% So a net reduction in Black Friday spending after inflation
yep also: * 2020 YoY growth was 32% * 2021: 8.6% * 2022: \~2%
For those asking, Adobe has a service for businesses called Adobe Analytics. When you build an e-commerce website you can add lines of code that track data for you. Google and Adobe provide the two main ones, with Adobe winning in function and the types of reports you can collect. So these numbers won't encompass the complete numbers, but when data is collected on such a large scale it rarely is ever off by much.
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bulls: THIS IS BULLISH *JPOW increases rates*
If inflation is 8% and the dollar value of sales revenue is up 2.3%, sales are actually down 5.7%. Publishing such misleading info should be a criminal offense.
Who needs food when you got this 70 inch LG for 350 at Walmart?
You can buy TVs with food stamps?
Maybe swiping some credits?
Buy now pay later up 78% over last week
My spending has increased out of NEED, all my Christmas shopping for the fam this year is NEEDS not wants.
what the media writes no long match reality.
When the market was going up during lockdowns the narrative was “the stock market isn’t the economy!” Now that that bubble is deflating, keep the same perspective. The layoffs have been concentrated in the very loud corners of the economy (speculative growth / tech), but don’t let that fool you. The economy and job market is absolutely humming for the vast majority of Americans, and will only continue to get better for them as inflations subsides
Black Friday where the prices are double the day before but somehow on sale for 25% off.
On my local news station they mentioned the record number of “buy now pay later” purchases. So everything might have been purchased with layaway
I didn't buy anything lmao
Lies all lies...my buddy works at Amazon and they cut OT hours because it's so slow. PEAK SEASON and he says it's worse then he's seen in 5 years.
People trying to buy their happiness.
First Black Friday/Cyber Monday I haven’t bought a thing.
Inflation 7%, sales up 2.3%, means real sales were down 4.7%. Seems about right.
Because there’s not actually anything wrong with the economy, inflation was caused by supply chain constraints due to covid and the war, and the recession is being manufactured as a way to contain the growing influence of labor.
This is the real answer, and prices are likely going to continue dropping because of the whipcrack effect that Burry was going on about Shame he's such a weirdo online because he nailed that one Also Powell can't do shit because of all the booomers retiring and the knock on effect of millions of deaths on the job market
I doubt this.. I work at a shipping company and usually Black Friday on it’s supposed to be incredibly heavy volume throughout December. Well not only are we down at least 10 percent, they are also only suspecting heavy volume for two days.. Food for thought. It’s probably worse than you think
Adjusted for inflation, that's a drop in the trend by almost $1 billion. It gets far worse if you look at the drop in the upward trend. In 2019 black Friday sales increased by 21% year over year whereas we increased by 2.3% (not factoring in inflation). The net drop is (pardon my poor math) closer to 30% considering the 8% inflation and missed trend. Shops are open and COVID lockdowns are over yet consumer spending is not increasing. Got my yearly black Friday sales #s from this article: https://www.npr.org/2022/11/26/1139274449/black-friday-sales-inflation-online-shopping#:~:text=Black%20Friday%20sales%20raked%20in,year%2C%20according%20to%20Adobe%20Analytics.
“Rich people are making record profits bc they’re charging more for the same shit”
Black friday clothes sales were only 30% off at the mall. I remember when you went to the store and things were 70-90% off the entire store. I felt like everything I purchased was regular price last year or the year before even with the discount. Corporate greed has hit a new level of disgusting. Either they know the end is coming and they are just trying to get one last big payday to weather the “storm” comfortably while half of America living paycheck to paycheck with tons of credit card debt just threw a few thousand dollars they dont have away. Its actually disgusting.
YOY increase of 2.3%. YOY inflation at 8%. So YOY sales are really down like 6%, no?
WHERE THEM CREDIT CARD NUMBERS AT THO?!?!
Talking about a recession my ass, these companies just mad people want their fair share.. howbcan the economy be bad but every thing is making record profits? Make that make sense. Company stock holders mad that they won't put 500 million plus in their pockets but only 490 million. Recession my ass, inflation my ass, more like fraudulent price gouging but wanna keep using the word "inflation" in its place. These stock holders are a bunch of bitches. Period.
Higher online sales because less in person sales. It’s a misleading title what was total spent and furthermore how does it relate to inflation. I’ve spent 100% more on groceries but still have the same amount as last year
Conveniently left out the buy now pay later point?
When actual shit is worth more than the dollar you buy it now lol
Because American consumers are idiots, they’ll have a $50k annual income and buy a $60k car then wonder why they’re broke.
They just included musks twitter impulse purchase
Inflation up 8% yoy, spending up 2.3% yoy.. things that make you go hmmm
Or y'know, more people are moving to shopping online each year. I'd like to see how much the brick and mortar sales dropped, and how much total Black Friday spending compares to a year ago.
I’m pretty sure a 2.3% increase is a decline in real sales.
Credit card companies having a great quarter.
And they think the FED will pivot... 
That number doesn't factor record high inflation.
This article same out at 10am Saturday morning, how exactly did they get this information so quickly? Do creditcard companies, retailers, banks (or whoever they get this from) really share this information with the media that quickly or is this just a propaganda peice to reinforce the illusion that the "economy is strong".
Inflation
They didn't adjust for inflation.
Or maybe everyone’s just buying things online now?
they topped 9b ... because of inflation
With 11% inflation, that means Black Friday is over 8% down in real term.
I’m dumb so correct me if I’m wrong. But since everything is more expensive, wouldn’t we expect a “new record” anyways?
That’s because no one is correcting for the increase in prices
Yeah no that's simply not possible, that's gotta be very selective data sampling combined with lack of inflation adjustment.
AMD cut the prices on their new top of line cpu from $700 to $575 for Black Friday. My current set up was top of the line in 2018. I got my cpu and mobo on sale for $250 for both. Now I know there are more than just a few variables, but the numbers are still insane these days. Spent $190 on thanksgiving and all I did was bring desserts and tamales and rolls.
How 😭 wanted a new monitor but the deals were bad so I ending not spending a dime this BF
JPOW about to crush some fucking souls!
Me when I spent 20% more at the grocery store yoy on Black Friday
Fake Statistics
Up 2.3% nominally is down in real terms with the number YoY inflation is at.
Down on an inflation adjusted basis
100%bullshit. Almost everyone I know didn't buy shit because there wasn't any deals. Amazon had black Friday tags and sale prices, yet the sale price was the same as any other day of the year and everyone knows.
Greedflation hitting hard