They're not real...
The stock market is up. There is no earthly reason for it. Here's my point: Holiday shopping is down 3% over last year. Last year sucked. And what were people buying? Clothes. Apparel items led the charge for sales. That's not good because people are buying necessities to give each other over luxuries. That's not a happy start to the shopping season.
I say all of that on top of this: roughly 3/4 of all economic activity in this country is driven by consumer spending. And folks are buying clothes which we don't make anymore. No more looking for the "union label when you are buying a coat, dress, or blouse." There are still small companies that make textiles in America, but they are few, and small.
Black Friday used to be a retail industry term for the day company books made it into the black. Now it's something I'm pretty sure Jesus would frown upon. Fights, crowds, avarice, greed, you name it, and I'm pretty sure the Savior had some strong words against it. What a way to kick off the celebration of the Hope of the World.
What prompted this blog post today was the whole bitcoin thing. They're not real. They only exisst in cyberspace and people act like they're worth all this. And people are making fortunes on this. It's like pimping penny stocks and it's just nuts. The bottom will fall out. As it will in the stock market. Because it's not real nor is it based on anything tangible that makes sense.
And apparently I'm not the only person who thinks so.
I say all of that on top of this: roughly 3/4 of all economic activity in this country is driven by consumer spending. And folks are buying clothes which we don't make anymore. No more looking for the "union label when you are buying a coat, dress, or blouse." There are still small companies that make textiles in America, but they are few, and small.
Black Friday used to be a retail industry term for the day company books made it into the black. Now it's something I'm pretty sure Jesus would frown upon. Fights, crowds, avarice, greed, you name it, and I'm pretty sure the Savior had some strong words against it. What a way to kick off the celebration of the Hope of the World.
What prompted this blog post today was the whole bitcoin thing. They're not real. They only exisst in cyberspace and people act like they're worth all this. And people are making fortunes on this. It's like pimping penny stocks and it's just nuts. The bottom will fall out. As it will in the stock market. Because it's not real nor is it based on anything tangible that makes sense.
And apparently I'm not the only person who thinks so.
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