Home > upward income redistribution > Black Friday madness

Black Friday madness

from David Ruccio

fredgraph

Black Friday has apparently become a spectator sport for the leisure class, who look forward to watching videos of shoppers brawling for discounted items from the safety of their own homes. A reality-show Hunger Games, if you will.

But this year Black Friday, like Mockingjay Part 1, was a disappointment, as sales were apparently way down.

That’s no surprise. As you can see above, real median household income, which reached a recent peak of $56,436 in 2007 (which was below the overall peak of $56,895 in 1999), has fallen to $51,939 (in 2013 dollars).

chart

Or, looked at differently (in terms of the average real income of the bottom 90 percent), incomes have fallen from $34,815.58 in 2007 to $30,438.59 in 2012.

The real madness was to presume that either the third installment of the Hunger Games (which was nothing more than a placeholder until the real finale is released) or Black Friday (with depressed incomes for all but a tiny minority at the top) would be a success.

  1. December 2, 2014 at 6:30 pm

    Reblogged this on Arijit Banik.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s