In economics or accounting, in the black means “making a profit,” while in the red means “losing money.”
Shouldn’t today be Red Friday then? I mean shouldn’t we look at the broad majority of folks, who in order to give their children the “American Christmas” are about to dash against people in search of this or that toy, electronic doo-dad or gift that rekindles.
Two-thirds of our economy is based on buying. One third on production (answering phones and analyzing stuff on computers counts as production too). But it is the countries that produce more than they buy that call the shots. We haven’t called the shots then, since 1972.
No voodoo economics can cure the fact that we sent our means of production abroad, screwed our own labor so that those ALREADY AT THE TOP OF THE HEAP can make more money off cheaper labor. The Dems didn’t just go along with this, it was Clinton who pushed NAFTA onto formerly pro labor,pro environment democrats, and they bit, after being given pork barrel projects one-at-a-time in white house meetings.
Then came the 1995 Banking Reform Act, and the 1995 welfare reform act, both signed merrily by Clinton. Then GATT 2, and with it the ushering in of the all-powerful World Trade Organization. Since then a frenzy of free trade deals (FTAA, KORUS, TPP, what next?) all of which assure the further erosion of the American middle class, and the profitability of multinationals here and abroad, notably China.
Black for the managers and up, and increasingly red for everyone else. Red in terms of time taken and hard work required in trade for folks not being able to afford rent.
Black Friday indeed. Many don’t buy anything on this day. Wow, that’s smart. The “other” black Friday is a day the stock market crashes, or will crash, or could crash. Steely Dan put it this way:
So on this black/red/black Friday, if you let loose of your greenbacks, remember, don’t go into the red to feed the black Friday of the already- stockholder class.