If Baghdad had been calm, the normal lead story would have been so-called Black Friday, the day in the year when retailers' balance sheets traditionally shift out of the red and into the black as the Christmas holiday shopping season begins. Sure enough CNBC's Jane Wells and CBS' Sharyn Alfonsi were assigned to the malls to catch the rush. Wells focused on deep discounts on plasma TV screens. Alfonsi saw "full-contact shopping" by crowds lured by early sales. "Black-&-blue Friday," she joked.
CBS' Sandra Hughes followed up with a cautionary note. With all those credit card charges, aggregate personal debt, not even including home mortgages, has gone from black to red. "The personal savings rate has not dipped so low since the Great Depression."
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.