From the Grows On Trees department:
Funny… The Washington Post reports that consumer debt is growing at an alarming rate, yet The New York Times reports that retailers across the country are reporting the worst sales decline on record. Maybe retailers are actually keeping the customer in mind and acknowledging that credit card charges aren’t real money, but shuffled debt? Nah… I doubt it.
May 14th, 2007 at 12:22 pm
Here’s a thought- people are using their credit card to buy groceries. That wouldn’t be “retailer”per se, would it? But it would run up debt if you don’t pay it off each month. People get sucked in to that rewards program, but forget they need to pay…it…off…
I do my clothes/shoes/gift shopping online and Ebay a lot, so I wonder if that is contributing to the sales decline reports. I guess I need to wander out in to the real world again