So, it was bonus day on Wall Street this week. Typically Wall Street workers double their salaries during bonus day. This week, there was nada or nearly nada. And this is proper and fine. Tax bailout money should not go to bonuses.
Yet, this means there's going to be a whole lot consuming going on by this huge group of workers in the New York area. The state and feds usually take out a huge chunk in taxes, which go to schools and subways. It's just not good news.
That Madoff disaster couldn't come at a worse time. Foundations, charities, universities and grandmas have lost millions. The dude has to be given some props for keeping it going for so long. But this just diminished trust in Wall Street even further.
But with news of stoke brokers so bored that they're doing their Christmas cards at work, I headed over to Toys R Us with a reduced list. And things were crazy. The Wiis were sold out. They had gotten in a shipment at 9, but were sold out by noon. Women were fighting over Nurf N Strikes. The Rip-Stiks were gone. So, is the economy better than I think? Are people going into massive debt for their kids this year? Is Toys R Us just not stocking their shelves, because they don't have enough credit to buy things in advance?