What really struck me was the fact that it is being promoted on TV in a major ad campaign. What does this say about credit and its availability to the average consumer? It tells me that retailers are having to rethink their business in view of a dearth of easy credit if they want to keep money coming in. Credit cards are becoming a luxury item once again. Just like forty years ago when my grandma used to put the big things on layaway at Famous Barr.
This is the clearest and most understandable evidence yet of how far our economy has receded in the past two years. We are returning to a way of doing business that had, for all practical purposes, disappeared forty years ago. The glory days are over. Cheap money and copious credit are a thing of the past; and with them goes the driving force of our economy.
Don't believe the happy talk about recovery and a return to the economy of the last twenty years. It won't and it can't happen. We're in for, at best, a long, slow grind. If we're lucky.
Posts
Any speculation on the return of Eagle or Top Value Stamps? I bought the fabric to make my bridal party dresses for my wedding with Eagle Stamps. Checking the kitchen cabinets, I could use a new set of glasses. Remember the Clark "filling station"? After 40 years of marriage, I am still using the stainless steel flatware from Kroger.
ReplyDeleteThis post is not up to the quality of Ioannes but just my 2 cents.
Carolyn
I'm thinking S&H Green Stamps and maybe Vandervoorts will return, too. I always liked the history books and such the grocery stores gave away; a new one every week with a $25.00 purchase. And how long has it been since you went to a smorgasbord or played cards in a rathskellar.
ReplyDeleteI feel like I'm entering a time machine.