So how is the economy holding up during Thanksgiving – traditionally one of the biggest, maybe the single biggest, shopping time of the year?
From Megan Henney at foxbusiness.com, we have this highly encouraging news:
Consumers spent a staggering $4.2 billion online on Thanksgiving, a 14.5 percent (increase) from last year and a record high, according to new figures published by Adobe Analytics on Friday. This marks the first time that Thanksgiving shopping has surpassed $4 billion.
In total, e-commerce behemoths saw a 244 percent boost in sales on Thanksgiving, while smaller retailers experienced a 61 percent jump.
There is bad news here as well, in that online sales are at the expense of brick-and-mortar stores. But that is not an economy problem, it is a technology problem – one I have a great deal of first-hand knowledge about.
That said, speaking strictly in economic terms, the news is obviously very good for the country.
From a political point of view, it is also very good for President Trump, who will (with considerable justification) take credit for it…
…while, from a political point of view, Democrats will have to try convincing voters either that the economy is not good (lots of luck with that), or that the economy is good but Trump had nothing to do with it (ditto), or, sad to say, root for the economy to falter so they might be able to blame the downturn on Trump.
Not a happy group of choices for them, is it?