Retailers Rejoice: Holiday Shopping Soars to Pre-Recession Levels

Shoppers splurged this holiday season, by spending more than they have over the past three years, according to preliminary retail data from MasterCard Advisors SpendingPulse, which tracks retail sales. In the 50 days before Christmas, spending rose 5.5 percent to exceed forecasts. In 2009, spending increased only 4 percent, and the year before, Americans tightened their buckles so much, sales dropped by 6 percent, reports the New York Times. All categories benefited, including apparel, jewelry, luxury goods and home furniture.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald