Boycott Watch  
November 17, 2008
Economic Talking Points:
Moving the economy forward
    One of the best times of the year to move the economy forward is the Christmas shopping season, which traditionally starts the day after Thanksgiving, the day known as Black Friday, as it is when many retailers make their profits for the year. The real economic problem we see is consumer confidence - the more political pundits talk about a recession which has not been proven yet, the more consumers and businesses will tighten up their spending, thus creating a self-fulfilled prophecy.

    To boost consumer confidence, the nation needs to first give consumers something to be happy about, thus increasing demand for goods, thus facilitating manufacturing and more retail sales. The best way to re-start this cycle is not via throwing money at the people who created the problem in the first place, but rather by getting consumers to want to spend more money and feel good about it. While economists agree that personal debt is not a good thing, the fact is that people will use their credit cards to purchase Christmas gifts and rack up debt. Making people feel good about using those credit cards would, therefore, be help the economy. In the process, credit card companies and banks will make more money because happy consumers spend more.

    Boycott Watch would therefore like to see a joint program between credit card issuers to lower interest rates for the all purchases made between Thanksgiving Day and January 5th. Such a campaign would make consumers feel better about their Christmas purchases, thus build consumer confidence.

E-Mail This Page to a Friend
Enter the recipient's e-mail address:

(Click here to return to top of page)
 ©2003-2008 Boycott Watch