Prediction came true

I just want to note that another of my predictions has come true. I said that, despite all the spin and hype, this Christmas season would be lower even than last year, which was horrible. I said I was guessing that sales would be good for Black Friday, then wither away. That turned out to be the case. I based it on the fact that incomes are down, unemployment is up, savings rates are up, consumer confidence is still low, and credit card companies were clamping down on credit at the beginning of December to meet a dealine.

The people who thought sales would be up (all the experts) cited the "wealth effect" because the stock market is up. This didn't make sense to me, since few individuals are participating in the market right now. It is primarily companies that are getting free money from the government (banks receiving our tax money) and using it to speculate. It has been estimated that 40% of all stock market activity right now is just five big banks. And the professional investors are 30 to 1 more likely to be selling than buying. That should inspire confidence in the masses? The link is below.
www.finance.yahoo.com/news/December-retail-sales-drop-03-apf-3350007934.html?x=0&.v=9

Also, according to a new National Federation of Independent Business survey, sales are down 43% for small businesses. Oh, that's why they're not hiring. Here's a link to a summary. www.marketoracle.co.uk/Article16489.html
On a more upbeat note, check out the picture.