BLACK FRIDAY CASH CASCHE

This year, there isn't an income class that isn't affected by something. We have high-income consumers that are a little nervous about spending money because of volatility in the stock market. The middle class are freaked out about the value of their homes, and then the lower-income consumer is strongly affected by gas and energy costs. Nevertheless, Black Friday lived to its hype! Or did it?

With everything from strategies for bargains to gift ideas and credit-card tips consumers were aware not to get too wrapped up in the moment.
The nation's shoppers who had been hibernating in recent months because of worries about rising gas prices and falling home values, cut their thanksgiving festivities short and jammed the malls and stores for pre-dawn discounts on everything from TVs to toys on the official start of Xmas shopping. Hundreds were observed standing in long lines for hours to get a short at a bargain, a mediocre trend that’s fast catching on to stretch their hard earned dollars.

With the economy relying heavily on the consumer spending, however, it's crucial that the Black Friday euphoria lasts throughout the season, which is expected to be the weakest in five years. Stocks rose as investors capped a capricious week by engaging in a bit of Black Friday bargain hunting while awaiting word of how retailers might fare during what is expected to be a tough holiday shopping season.

Never the less today the dollar hit a new low against the euro in thin trading as speculation continued that the American credit crisis will lead to another cut in the U.S interest rates. The euro, the pound and other currencies have been climbing steadily against the dollar since August amid fears for the health of the U.S. economy, stoked by the subprime credit crisis. The 13-nation European currency spiked early to hit $1.4966, breaking the previous record of $1.4873, set the day before.

What ever the market and the money controllers have in stock for us is up to debate, however, I know that my wallet is thin and my budget is miserly; I hope I’m in the minority because the reverse dictates a catastrophe of apocalyptic magnitude!!

Where is China in all this? I see it in the thick of things. 80%-95% of all the merchandise bought in this Black Friday was imported from the Chinese sweat shops. While our economy is heading south, the Chinese is heading North at the same or higher rate. Does this remind you of the plant that just shutdown in your town due to outsourcing? Or the 4-5 homes that just foreclosed on your street? Or the rumor that your job might be outsourced due to company restructuring?

Take this to the Bank: Shop wisely, spend conservatively and above all Save, Save, Save; you will need the money tomorrow. You can thank me later!!