True meaning of Christmas- accruing debt
11 January, 2012
True meaning of Christmas- accruing debt

Against all predictions and warnings that US economy is not what it used to be, Santa has done well by many people this year. One part of the society most pleased with Santa this year is the banking industry.

Due to US’s inherent inability to stay away from shopping malls before and during Christmas, bank owners are jumping for joy at their holiday bonuses. To be fair, Big banks don’t need holidays to celebrate, as their ‘too big to fail’

argument has gotten them bailout from people whom they subsequently denied mortgage loans, car loans, student loans and anything else they could deny, because suddenly they had become frugal with other peoples money. It would have been prudent for people to do the same, yet when it comes to Christmas shopping, no one can compete with the US for the number one spot as retail shopping experience.

(Except for Luxemburg apparently, but that’s cheating because they have high salaries and low tax rates, and thus they are disqualified.)
Holiday shopping is when most consumers go into debt, and even though there is a high unemployment rate in the States, it doesn’t do anything to the economy of shopping malls. According to news reports that even though the most shopping this year has been done in One-dollar Shops and Pawn stores, malls with big chain stores such as Macy’s or Walmart have been doing rather well.


To see this phenomena for myself, I went to such a  mall in Atlanta, GA, and  while an empty parking  space was almost impossible to find and the mall was packed with people, I had not witnessed any more unusual amount of shopping than on an average day. If anything, hordes of shoppers seemed to meander from shop to shop with a coffee in hand looking, but not buying. If anyone looked like they were doing well in their business it was the Starbucks. It was perhaps the sight because I had gone to the stores in the early hours of the day, because by noon, the whole mall transformed. I don’t know if it was the coffee intake, or what, but suddenly everyone was moving at high speed, carrying bags and bumping into each other.  A clerk at one of the stores explained that typically on weekends noon was around the time Hunters/gatherers (bargain hunter who cannot leave the store empty handed) had come to shop. If you are a bargain hunter, the one who can tirelessly spend hours in one store dodging and weaving though slow moving crowds of people Macy’s was a good place where you could practise your hunting skills. There were very little on sale or in bargain corners and very little of that was worth buying in the first place and definitely nothing worth fighting other shoppers for.


Perhaps this is why most people chose to do their shopping this year online. No long lines for the cash register, no disappointing lack of giftable items, and no crowds. But even those who shopped online had gone overboard and helped accumulate more credit debt. It seems that consumers would rather buy a gift that had nothing to do with the person it was going to, then not have anything to give during Christmas. I was sure to be one of those unfortunate people, but I was pleasantly surprised. While, in previous years I had myself been a victim of gifts that had been bought in a desperate attempt to fill my Christmas stocking, this year, my gifts were singular and perfect. And what’s more important,  no one had to go into debt for them. Thank you Santa.

Print
Other Stories
The two sides of Georgia
On my first few days in Tbilisi, I stumbled across these two contrasting slogans. One is a testimony of open-mindedness and tolerance,
Mentally Ill or Not?
“The brain is wider than the sky.” Emily Dickinson.
Shall We Dance?
“And those who were seen dancing were thought to be insane by those who could not hear the music.” Friedrich Nietzsche.
Are We the Same or Just Getting Better?
Georgian-born Mancho Busse has been working in hospitality business for many years by now. Her husband, Robin Busse, works for the State Department of The United States,
Eco-Friendly Habits: How to Clean Your Off-Roading Vehicle Responsibly
Irresponsible waste disposal practices continue to have drastic effects on the environment.
 5 Techniques for Finding Your Inner Creativity
Whether you’re a writer, artist, or even a marketing executive, you’ve probably had days where you felt completely uninspired.
A suitcase full of wine and a heart full of memories
I left Switzerland and arrived in Tbilisi on December 28.
Five Reasons to Visit Georgia in 2017
If you've been searching for a unique place to vacation in 2017, the beautiful country of Georgia holds some hidden treasures.
PROMISING FUTURE OF COLLABORATION
“All roads lead to Rome” – states one of the most famous medieval proverbs. It’s fascinating to think how much the narrow streets and glorious walls of this eternal city have seen.
It’s Not So Bad, Chaps- Just Look at the Yanks: Ogden on Comparable Politics
Electoral fever is dying down in Georgia as it ramps up in the United States.
 “Moral Inversion” - Pre-election period in Georgia
Georgian pre-election period can be classified as “Moral Inversion”, a notion first put forward by Michael Polanyi.
America’s Trump Card
Like it or not, the name of the 45th American President will most likely be Donald Trump.
Clock is not counting down, it is adding up!
On Saturday for the ceremony in Charleston, instead of wedding gifts, the Managing Editor of Georgian Journal, Will Cathcart
A Protectionist Perspective: Ensuring A Georgian Future
Unlike many of my compatriots, I view my country as a sentient creature, a single organism. The mountains
Back in BSSR
"I remember that when I was a schoolgirl, they told us we have to be ready to give our lives for the motherland.
Thank you, father, for saving me from USSR!
On the 11th of October, the population of Belarus has elected Alexander Lukashenko to serve his fifth term
The EU Getting Squeezed in Georgia
Recent polls have shown that the EU is less and less popular in Georgia. The reason is that they
What is Georgia’s Military For?
There are two possible uses for Georgia’s military. The first would be to fight a war with an external threat or by its existence, to deter
Protohack
Last weekend I went to a hackathon in San Francisco called Protohack. In the former Soviet Union, people tend to think of hacking
European Migrant Crisis: The good, the bad and the liar
“I call an animal, a species, an individual corrupt, when it loses its instincts, when it prefers what is injurious
Refugees in Georgia
The people of Syria see the Assad regime weakening, and considering who may take over and what they might
David and Goliath: A Realpolitik Rendition
A Conservative Contrarian View on Georgia’s Geopolitical Dilemma
The Bleeding of Rustavi 2 - Our New August Surprise
When the powerful have to make something happen that they want few people to notice, they issue the statement late in the afternoon
The Good Neighbor
In 2012, Georgia was promised to witness what ex-Prime Minister Ivanishvili called “a new age.” It would be achieved by “restarting”
Independence, Institutions and Corruption
People talk about Georgia choosing between Russia and the West as if Georgia ended up at a soccer game and, well, since we’re here we may
PHOTO OF THE DAY
Exchange Rates
GEL Exchange Rate
Convertor
12.11.2018
13.11.2018
USD
1
USD
2.7146
2.7166
EUR
1
EUR
3.0800
3.0602
GBP
1
GBP
3.5325
3.4900
RUB
100
RUB
4.0430
4.0131
Other Stories
GEL Exchange
USD
1
USD
2.7166
EUR
1
EUR
3.0602
GBP
1
GBP
3.4900
RUB
100
RUB
4.0131
November 2018
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30