Thursday, December 27, 2012

Cliff Looms, Consumer Consumes

Said a retail consumption authority:
"Consumers now have the priority
Of avoiding the "Cliff",
Regardless of if
It's mystery to the majority."

As the days and hours before the fiscal cliff dwindle, and the year-end economic data accumulate, opinions differ sharply regarding the influence of the former over the latter. According to perpetually hyperventilating Business Insider, "everyone is talking about how the fiscal cliff is crushing the consumer." The Insider's sleepless economics editor Joe Weisenthal cites recent, weak data from MasterCard and the Consumer Confidence survey in support of his point.

"Total BS," replies the Guardian's Heidi Moore. Digging deeper into the data, Moore cites a litany of reasons for recent slowdowns in consumer spending. Seasonal factors, and the fact that Black Friday and Cyber Monday spending broke records, loom larger than the Fiscal Cliff, though the latter may still be a secondary concern.

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