By Andrew P. Napolitano
The president's men trash the Constitution to pursue antagonists
U.S. shoppers spent cautiously this holiday season, a disappointment for retailers who slashed prices to lure people into stores and now must hope for a post-Christmas burst of spending.
Justin Bieber met fans in a purple leather jacket at Dolce & Gabbana in New York, Michael Kors launched his new Rockefeller Center store with a Rockettes kick line, a Ferris wheel went up over Rodeo Drive in Beverly Hills and crowds of fashionistas spilled into the streets of Paris Thursday as Fashion's Night Out entered its third year.
Oil rose again Wednesday, passing $109 a barrel at one point, as the dollar weakened against major foreign currencies.
Americans spent more on clothes, shoes, luxury goods and electronics in December than a year earlier, extending retail sales momentum that had been building since August, according to data released Wednesday.
Americans kept spending carefully last month, buying electronics and back-to-school clothes but holding back on luxuries.
Naomi Campbell danced on the sidewalk of Madison Avenue in leather hotpants. Alexander Wang led a dance party in a department store. And Vogue's Anna Wintour wore a (gasp) T-shirt.
Naomi Campbell danced on the sidewalk of Madison Avenue in leather hotpants. Alexander Wang led a dance party in a department store. And Vogue's Anna Wintour wore a (gasp) T-shirt.
Fashion's Night Out, the one-night-only celebration dreamed up by Vogue's Anna Wintour, had shoppers heading to stores across the country on Friday for special events and brushes with celebrities.
Worried about the stalling economic recovery, Americans remained reluctant to spend at stores in July, especially on pricier items such as jewelry, though they let go of some money for travel, according to data released Wednesday.
"The fiscal debate anchored the season in terms of growth," said Michael McNamara, a SpendingPulse vice president. "The media coverage, which did a good job of explaining the negative consequences of the fiscal cliff, created this negative trend in consumer confidence and spending."
Worst Christmas shopping season since 2008 is blamed on ‘fiscal cliff’ →
Online sales did enjoy a modest boost after the recent snowstorm that hit the Midwest, McNamara said.
