The day after Thanksgiving is known as "Black Friday". It is a key shopping day. Many retailers need good sales that day and in December, in order to be profitable for the year.
The fallacy is "Consumption is an indication of the health of the US economy."
What really matters is how many useful goods and services are made all year round. For everything someone buys, someone else had to make it.
This is a common mistake of pro-State troll comedians/communists/economists. They say "Consumption drives production!" That is exactly backwards. Production drives consumption! Everything that is consumed must be produced.
The US economy is shrinking at an alarming rate.
For an economy based on value, hype is irrelevant. For a scam-based economy, hype is more important than producing something useful.
The problem with the US economy is very simple. State restriction of the market is too severe. It is more profitable to steal, than to produce something useful.
Wednesday, December 2, 2009
The Myth of Black Friday
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Yes, production is what matters. More accurately, it's the production of only the goods that are needed.
How do you measure how many needed goods are produced? Was a program that FSK wrote even needed? Does FSK deserve to have a meat on his table? We don't know until it is sold. I may think his program is ROR. But, Fred here bought it, and this means that FSK did work to satisfy someone's needs.
This is why we can only measure our production of needed goods, by seeing how much was sold.
Now, I completely agree with you that Black Friday is a government fnord. Because people are programmed by the government that they "need" to buy something on that day, the government is obviously falsifying the results here, with the result in bigger number of supposedly "needed thus sold" goods produced.
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