Cyber Monday is not for me
It’s only a couple hours into the trading day but the markets are up over 3% and some near 4%, wiping out more than half of last week’s losses (its early and who knows where we will be at 4:00). Long-term investors need to take notice that trying to time the markets is a losing proposition. Over time, investors who stayed the course have profited compared to those that feel they can outsmart the markets. Today’s enthusiasm originates from the fact that maybe, just maybe, Europe will take care of its mess and shoppers who spent an ungodly amount of money since Thanksgiving. This can be because they feel the deals won’t get any better, but from my perch, I don’t see how the consumer is feeling that good about themselves where they are going to spend spend spend all the way till Christmas……..not with unemployment at 9% and an economy that is looking for any sign of life that it is getting better.
Now for Cyber Monday….Imagine being able to only shop at Wal-Mart or eat in an Olive Garden…for most folks this is not appealing. I know consumers get excited about Black Friday (or was it Thursday this year) and Cyber Monday, but by being part of this hype, we are actually hurting the independently owned businesses who try really hard to “Make My Day” (thank you Clint Eastwood for a great quote) every day. Picture not being able to drive thru a local town or plaza filled with festively decorated storefronts or streetscapes; getting a good cup of coffee at the local roaster with an unique ambiance or worse yet, having to eat canned food recipes from a chain restaurant rather than from your much loved chef……at the end of the day you may (or may not) save a few pennies, but surely your overall quality of life will diminish because the small Mom & Pop businesses who are diligently trying to make a living and add to the local community can’t compete any longer. SO JUST SAY NOT TO CYBER MONDAY and after work, take a trip to that retailer who will make the time and help you or stop and get a home cooed meal……your employer will be happy that you are working today and not shopping online and you will feel better that you helped keep the neighborhood alive and well.
The markets were up well before the announcement that Barney Frank won’t seek reelection in 2012, but I’d still like to say thank you Barney for calling it a day. Your infamous quote “I want to roll the dice a little bit more in this situation towards subsidized Housing” September 25, 2003 (see link below) and the fact that most of your cronies were able to grab cushy jobs at Fannie Mae and Freddie Mac for all those years, and let’s not forget the Dodd-Frank Wall Street Reform and Consumer Protection Act…..all of this pretty much sums up how our economy is doing today. Although we will miss your sense of humor.