Will credit crunch affect
your Christmas celebrations?
Christmas, the much-awaited celebration that
most people look forward to does not seem to
be bringing in much joy this season. First,
the bad ties began with the glut in the
housing mortgagee loans with many people in
the United States having to give up their
homes because they could not make payments
on time. Now the stock markets are taking a
big beating with massive blood shed on Wall
Street. Big financial giants who have been
in the business for years have faced crisis
because of bad loans and are declaring
bankruptcy. This is the first time after the
Wall Street meltdown in the nineteen
thirties that such a thing has happened.
All these events have taken a toll on many
corporates and in the U.S. many have decided
to cut down party expenses for Christmas.
Every year Christmas is celebrated with much
joy and pomp and it looks like this time it
may be reduced to a small tame affair. All
this is due to the credit crunch that all
companies are facing.
Expecting lavish and costly gifts this
Christmas would be too much to dream of, as
shopper will feel their purses being
tightened which will affect the way they
decide to spend money on buying those gifts.
Shopping malls would have to go all out to
entice shoppers with added discounts and
gifts if they want good business.
Many market analysts expect this Christmas
shopping season to be a big dampener with
many people preferring to stay away from
making purchases. Pre-labor sales periods,
which normally occur in September every year
are one of the highest money grosser for
many shopping arcades and malls with sales
picking up at accelerating speeds as
Christmas season comes close. This year the
picture does not look too rosy.
Credit crunch which many nations are feeling
starting with the United States is certainly
going to affect the way you are going to
celebrate your Christmas. That means people
are going to think twice before he or she
decides on whether someone close to them
really needs that expensive gift for
Christmas. But nevertheless, if you have the
spirit and the fondness and love, then all
times can be party times for you. It is time
to show warmth forgetting the money in your
pocket.
