Black Clouds over Black Friday.

Posted By Cliff Tuttle | November 27, 2010

No. 532

The local TV news has so many minutes of air time to fill, even on non-news days like the day after Thanksgiving.  So, it is not surprising that the annual ritual of getting up early to stand in line at big box stores leads, even when it doesn’t bleed.  What is surprising is the proclaimed consumer optimism this year, hard on the heels of the midterm elections that were read by all to indicate dissatisfaction with the state of the economy.

Meanwhile, the Irish banking system was temporarily rescued this week from collapse with the promise of more to come.  Portugal and Spain are rumored to be next amid street demonstrations in London and Rome over fiscal cuts to the bone.  Then, on the other side of the planet, the Koreas are announcing themselves to be on the brink of hot war, with the United States standing in the ready. This crisis, with all of its nuclear weapon implications, sent the US stock market into a swan dive a few days ago.

In a preview of coming attractions, the US government is denouncing the upcoming round of Wikileaks, saying they will endanger people who helped Americans in world trouble spots and will cause US relations with other nations to suffer. That, of course, is not going to keep the leakers from leaking.  So, brace for a crash landing.

Meanwhile, the lame duck Congress is poised to do nothing about critical matters like the sunset of the inheritance and income tax cuts.

So why are so many Americans carting home giant TVs? It must be a need for diversion.

Welcome

CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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