Holiday Shopping Season Looks Grim

Retailers are expecting a 2-5% increas in retail sales over the holiday season, with most looking at the lower end.

Between the subprime meltdown, and dropping house pri9ces, people will keep their money closer to themselves.

Honestly, I expect it to be below 2½%, and when one considers that inflation is significantly understated, we're probably seeing more than 6% right now, this actually means a drop in real consumer spending.

This is where more than half the profit in retail sales is made, so this will ripple through the economy.