This is not the sort of news President Obama’s economy wanted to hear. Christmas shopping season is a bust. The story is counter to the headline the Fed will pull back on its economic pump priming, believing the economy is growing. And maybe it is. But when people are reducing their Christmas shopping, it is a stark reminder, they are concerned about “Happy Days” being here again.
Take the second paragraph of Anne D’Innocenzio’s AP story:
The bottom line is, retail outlets may have a difficult time reaching their bottom line. That is because consumers are concerned with theirs. Couple that with Obamacare and higher energy costs, and you could have an economy begging for more Fed intervention and not less in 2014.