No Stimulus from Stimulus Checks
Apr 21st, 2008 | By Contrarian Profits | Category: Featured, Financial News, Politics & EconomicsRetailers are trying to lure shoppers helped by stimulus checks, reports AP.
You may have to wait until May to see your economic stimulus check, but some retailers already have their sights set on how you will spend it.
Both Kroger Co., one of the country’s largest grocers, and department store operator Sears Holdings Corp. are already offering discounts and freebies to consumers who turn the rebate checks into gift cards.
Other retailers like Home Depot are launching advertising campaigns to helpfully suggest ways to spend those extra dollars.
“People have to eat,” says Mish Shedlock on his blog. “They are going to keep eating and now Kroger is effectively offering 10% off on food, something consumers were going to keep buying anyway. Where’s the stimulus in that?
“There are millions of homes headed for foreclosure over the next year or two. What is $1,200 going to do above and beyond providing one month’s rent.”
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