Retailers are so desperate for your “stimulus” package – they want to make sure you will spend it in their store and are offering a 10% bonus.
Can’t wait for that economic-stimulus check from the IRS?
Neither can Sears, Kmart and Fry’s Food Stores.
Starting next month, they will give shoppers a bonus to spend the bucks in their stores.
Sears Holdings Corp., which owns Sears and Kmart, and the Kroger Co., Fry’s parent, this week announced national campaigns that will allow shoppers to exchange their stimulus checks for store gift cards worth the amount plus an additional 10 percent.
Can you imagine these retailers plotting to get the stimulus before the Consumer Spending bubble bursts…..
Forecasting the stock market is a fool’s game—but there are grounds to believe there’s another drop in the market yet to come. The reason: a broad decline in consumer spending, which so far has been masked by a quirk in the government’s statistics.
Combine that with a rapidly unraveling job market, high energy prices, and the continuing credit crunch, and you have the recipe for a drop in consumer stocks. A big decline there could take the rest of the market down with it.