Source: Garrison Center
by Thomas L Knapp
“Americans, the Associated Press reports, spent a record $11.8 billion online on ‘Black Friday’ (the day after Thanksgiving) this year … and another record, $6.4 billion on Thanksgiving itself. Physical in-store traffic for Black Friday also ticked up versus the previous week, although shopping for deals has strongly moved online in recent years. What caught my eye about the story, though, was the headline, which suggests the record sales occurred ‘despite wider economic uncertainty.’ ‘Despite?’ More likely, in my opinion, ‘because.’ With inflation still running at about 3% annually, prices subject to Donald Trump’s seemingly random tariff policies, the job situation looking more uncertain and unpredictable than it has since the COVID-19 panic, etc., what have American consumers been up to? I can tell you what they’ve been up to, because I’ve been up to it myself. What we’ve all been up to is ‘waiting for the best deal if the purchase isn’t an emergency.'” (12/04/25)