“Black Friday is not another bad hair day in Wall Street. It's the term used by American retailers to describe the day after the Thanksgiving Holiday, seen as the semi-official start of Christmas shopping season.”
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In principle, there are only three main components of spending that much matter to monetary policy: consumer spending, business investment and exports and trade.
We all know that Americans love their statistics - in sport, obviously. And in finance too.
We Brits print banknotes out in Debden in Essex, and have contracted it out to the private sector. Here in the U.S. it is a government operation right in the heart of Washington next door to the Holocaust Museum.
But beginners to the World Economics Forum have to understand there is no single Davos experience, and there is no single Davos community either. There are numerous tribes who interact only at a minimal level.
