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October 22, 2007

12 Days of Debtmas, Shop Until You Drop (93 secs.)

November 22, 2007 11:29 AM EST (Updated: March 05, 2008 02:47 AM EST)

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The National Retail Federation reports that more than 140 MILLION bargain-hunting shoppers (one-half with credit cards) hit the stores on "Black Friday" last (2006) Thanksgiving weekend... and now the question is will consumers hold back? Are gas prices too high? Is this really what Christmas is all about? What a zoo! Waking up on 5AM (on a day off no less)... Parking lot bumper-car madness... mob scenes at the cash registers... or worse, "out of stock" signs on your item—fist fights at the local Wal-Mart! Last year consumers spent 108 billion dollars in only a 29 day shopping frenzy. At $43,000 a second—it doesn't rival congress but it is pretty sad or impressive depending on your part in the economy. For the merchants of debt it is empowering—for the overspent and overextended consumer it is enslaving.