The rain meant no one did any shopping at Easter

And high street stores are bummed

The rain was bad news for the UK high street. It'd hoped a recent run of really, really bad sales would be boosted by the long weekend, but everyone stayed indoors. Because, well, it was raining.

What it means: The UK high street is having a tough time. Stores are closing down everywhere. They're juggling high taxes (or business rates), low spending ('cos noone has any money) and a rising minimum wage (so they have to pay staff more). They were looking forward to Easter: the long weekend normally means people get out and buy stuff, but nope.

In fact, compared to 2017, there were 13.9% fewer visitors to high street stores by midday.

Whether or not you choose to go out and buy something has a huge effect on a business. If that business folds, people lose their jobs, it can't pay off any debts, and that has a ripple effect through the whole economy.

That's why economists are so obsessed with consumer spending. Take interest rates: one of the main reasons central banks lower the charge you pay when you borrow money is to encourage you to go out and spend it, rather than save. They just need to work out how to control the rain.

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Reader Comments

  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?