Christmas Shopping and the Consumption Myth

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By John Tamny  RealClearMarkets

In the days leading up to last week’s Black Friday, the post-Thanksgiving shopping day when many retailers become profitable for the year, Americans were inundated with lots of media commentary about their Christmas-shopping plans. Various accounts suggested that with the economy needing a boost, prodigious spending on Black Friday would stimulate an economy that’s presently not firing on all cylinders.

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