Obama says expect change? I don't see it Options

[Tung]

I don't know man. The people he's choosing for his cabinet is very questionable. I would like to focus on how and why he is picking his cabinet, on the one hand, from different constituencies but, on the other, how he is tapping primarily Clintonites who were responsible for deregulation and the economic catastrophe now upon us.

I don't know if you guys been reading up on what's going on, but I just feel Obama's economic policies and "plan" is going to backfire, and I really expect an economic catastrophe in 2009. There's already a projected 300,000+ jobs being laid off, in just California alone I believe. I was also reading up on this study that they did on Black Friday. They interview alot of people, and most of them said Black Friday was the first time they went shopping in the whole month of November. They furthermore said, they won't be shopping for a while, and already got their Christmas shopping done. What does that mean? Economy will suffer greatly this month, than in the past years. This means business won't be good. =\

Anyways, I'm questioning Obama's choices for his cabinet.

[espressive]

I was also reading up on this study that they did on Black Friday. They interview alot of people, and most of them said Black Friday was the first time they went shopping in the whole month of November. They furthermore said, they won't be shopping for a while, and already got their Christmas shopping done. What does that mean? Economy will suffer greatly this month, than in the past years. This means business won't be good. =\

Yeah, I've been actually watching the news for once cause the economics part is really interesting: A few weeks prior, people were blaming the decline of the economy on Black Friday, saying that consumers weren't spending money because they wanted to wait until everything went on sale that day. The projected theory was that Black Friday would instigate economy growth due to the volume of consumer spending (as those of you who went shopping would know). However, interestingly enough, businesses didn't actually profit that much from Black Friday. But now, everybody finished all their Christmas shopping at 50% off, so there is once again, a decline in consumer spending. So yeah, pretty much what you said :-p

I think the low profits of Black Friday had to do with the fact that people consciously bought only what was needed instead of going on a shopping free, especially since the economy is tanking. The lure of Black Friday is the discounted items, which the business may not profit from (so the price they sell it is less than the price the business paid for it). But the key concept is that the appeal of the sales bring consumers into the store; the hope of the businesses is that once the consumers are in the store, they are more willing to spend more money on other items - items that the business will profit from. Since people bought minimal items, on a need-basis, the businesses only profited slightly (if at all). I don't know if that makes any sense, but that's just what I think. Economics is not my forte. Correct me if I'm wrong.