Soft Consumer Spending? Not At Outlet Store in MN
WSJ/WASHINGTON -- The U.S. economy continued to stabilize in July and August, but soft consumer spending amid a weak job market suggested that recovery will remain subdued. Consumer spending drives much of the economy. People are afraid to spend much because they have lost or are afraid of losing their jobs.
We keep hearing reports like the one above about "soft consumer spending." But then how do we explain this line of consumers standing in line waiting to shop at the Opitz Outlet in St. Louis Park, MN? The store had already been open for more than an hour and was already so crowded bargain-seeking shoppers had to wait in a long line to go in and spend money:
At least the bargain hunters apparently aren't afraid to spend money. It's great to see that "consumer greed" is alive and well in Minnesota. The smell of 90% savings must have a very strong, attractive, irresistible odor.
Thanks to Matt B for the photo.