Time of the year for shopping

 

 

Thanksgiving Day is here and now Christmas is near the corner. It is that time of the year again for shopping. Some papers are reporting the anticipated drop in sales due to the financial credit crunch which will affect many consumers. The doomsayers are predicting that people will be filling their stomachs for food first and other gifts and luxuries maybe second. Hmm... sounds like Maslow's Law.

 

What do you think? Should people abandon the tradition of gift-giving seeing that the financial crisis is far from over or should they continue on with the tradition.

 

There are two school of thoughts. If people do not spend their money on gifts this Christmas season, the immediate effect would be that the companies who are manufacturing, distributing, retailing and displaying them would be the greater sufferers. When such companies go into the red, the first step would be to cut down expenses (short of declaring bankrupt), which inevitably would mean retrenchment of staff. When employees are fearful of such actions, they would tighten their belts more and refuse to spend - which becomes an unending cycle of depression!! Yikes, that would be the collapse of economies both domestic and nation wide.

 

However, when people begin to spend on presents and gifts this season, that would mean more people would be needed to be employed for this festive season, and more jobs would be created. When more money is in circulation, more families would be happier because everyone benefits from the circulation - from the manufacturing companies to the smallest employee. In return, this Christmas would really be a joyous one.

 

So go all out and spend what you should (but be careful not to overspend beyond what you should) and leave the rest to the cycles of economics.

 

Happy Thanksgiving and Blessed Christmas.

 

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