Consumer spending 'surged' in November?

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The overall market on Friday was very cheery because of news of some November data showing that consumer spending was surging. Perhaps I am a skeptic, and sure the malls were pretty busy. But was it just me or did everyone else notice that there were tons of promos and increased marketing efforts to lure consumers to shopping centers? In the past 2 months I've noticed an unusually higher than normal push in marketing efforts. More discounts. More sales. What does this all mean? Well Marketing costs money and these costs cut greatly into margin.

Sure people are spending at malls but can they really afford to? The average American and Canadian are already overextending themselves.

Call me a skeptic, but I predict a short term mini-correction after this mini surge in the markets due to the positively perceived retail news.

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