Black Friday: More shoppers, modest sales

Even though the report showed that there were more shoppers yet modest sales on Black Friday, there are some supposition that it's not the result of slumping consumer confidence. ShopperTrak founder Bill Martin said, supported with data, that stores may have cannibalized some Black Friday sales by prodding shoppers with doorbuster-like deals weeks in advance. In fact, a separate survey found that shoppers bought more goods. The number of purchases were 4% higher than last year, according to a survey of shoppers by market research firm NPD Group. Hopefully, this can be a reliable sign for consumer optimism and that the actual recession is almost over.

Shoppers back in Black Friday binge

In contrast the the past two years, shoppers say they are buying more for themselves and are less focused on prices. Further, the black friday discounts are reportedly smaller than years past. Do you think this is a good sign for the future economy, or do you believe these statistics are being overblown?

Market Failure: Secondhand Smoke Kills 600,000

A new study released by scientists at the World Health Organization concludes that approximately 603,000 people are killed annually by involuntary exposure to secondhand smoke. This means that about 1% of deaths globally result from markets' failure to account for the negative externalities of tobacco companies on non-smokers. This doesn't include the 5.1 million deaths caused by smoking itself.

Tobacco companies benefit from failure of information - most people are unaware of the devastating effects of secondhand smoke, to which scientific consensus concludes there is no safe level of exposure.

Portugal 'tightens its belt'

With the possibility of a bailout looming, Portugal has approved a budget for 2011 that aims to reassure its lenders that it can reduce its deficit. The recent request for aid from Ireland has affected the markets in every European market, and it has spiked speculation that other countries - like Portugal - might follow suit. The EU, though, has denied any meddling with Portugal's decision to adopt more fiscally austere measures. This articles underscores the links and influences that each European Union economy has on the EU as whole.

NATO summit

The NATO summit ended up this weekend in Lisbon, and it seems that a lot of compromise has been made. On many issues, including Afghanistan, cyberwarfare, nuclear weaponry, transition in Afghanistan, and more NATO seemed to be on the same page, hopefully meaning progress will be made in these areas. One thing that needs to be made sure of, however, is that these aren't simply "fluf" promises, and that the appropriate measures will be taken.

Ireland gets bail money

Ireland, days after saying that it needs help, but is reluctant to take strings-attached aid has been granted loans by the EU and IMF. One source said that Ireland has suggested it needs 60B euros, but have reportedly received 80-90B euros, a large number, but still not as large as Greece's 110B euro bailout a few months back.

Despite Recession, Geen Building Soars in US

It is good to see innovation at work inside the United States. The government is helping to spur this innovation with subsidies and grants for renewable energy buildings. As a nation, and a globe, we cannot remain dependent on the historical ways of providing energy to our earth. The days of burning coal or processing oil are coming to a end and other sources of energy need to be mass produced. This also opens the economy to new markets that will benefit a new group of entrepreneurs and hopefully continue the relatively high rate of economic development our earth has seen over the last 120 years.