Thanksgiving is upon us in a couple of days. I feel 98% sorry for Thanksgiving. It lacks the cache of Halloween and is now little more than a rest period complete with mid-week football games before Black Friday (unless you’re in retail in which case you stuff down a meal, kiss your family and hustle off to work). My practice has been to have a quiet Thanksgiving day and then have family in on Saturday to give them the opportunity to celebrate elsewhere on the day and still make time for mom. This year, though, a cop and a heavy-duty tow truck driver who’s on call have split our day into Thursday and Sunday. I can’t remember the last Thanksgiving I had on a Thursday.
It doesn’t matter really. I mean, Lincoln proclaimed the last Thursday of the month (next week in 2012) as the day of thanksgiving and praise. Up to then, states had randomly selected days to recognize and receive their many blessings. Canada, whose harvest is closer to finished in October—has theirs then.
I guess what bothers me is that Thanksgiving was pushed around by whiny retailers complaining about sales in 1939; there would only be 24 post-Thanksgiving days in which to shop. Roosevelt gave in and moved it up a week. Calendars were now wrong. Games had to be rescheduled. People of faith generally and loyalty to Lincoln particularly were outraged. About half the states went along with it, while half did not. A couple of them did both days. In the subsequent year, a few more states went along with what was being called “Franksgiving,” with confusion ensuing for another couple Thanksgivings until Congress fixed the celebration where it is today.
Did it work? The simple answer is “No.” Spending patterns shifted so the graph was more evenly distributed over the weeks leading to Christmas (instead of most of it the week just before), but spending was what had been expected.
The recovery was in full swing by then. Shell-shocked Europe, though, grimly watched as Hitler began invading one country after the next. But the President of the most powerful country in the world was puppeted by financiers, banks and others with interests in commerce in an effort to finagle more and more money from the American people.
Now it’s all about Black Friday. Odd when you remember that “Black Tuesday” was the moniker given to the day the Stock Market crashed in 1929–we all know that but did you ever think why it was BLACK. Somehow in our history classes we’ve filled in that blank to be a black day, a day of mourning, a day of loss and a grim future. Actually black and red are terms related to financial profit/loss statements. Black is good; not so good to “in the red” or showing a loss. (Kinda makes you wonder about that day in 1929 when we can see plainly these days who has benefited the most from the Great Recession–just sayin’) Black Friday is called that because it’s the day that retailers pin their entire annual profit hopes on. The larger chains and mega-stores can literally afford to lose money ALL YEAR if they have a “good Christmas.” They’ll still be “in the black” on their profit/loss sheet. Merry Christmas, indeed.
Here’s what an e-notes writer says that sounds eerily familiar:
The stock market was only one cause of the Great Depression, however. Unequal income distribution was another problem. While businesses showed great profits during the 1920s, workers got only a small portion of this wealth in their low wages. People who had small incomes therefore bought merchandise on credit. Advertisers pushed them to do so with the slogan “Buy now, pay later.” Many consumers accumulated so much debt that they could no longer purchase products, leading to a slowing of manufacturing because there was a backlog of merchandise. During the 1920s American farmers in the Midwest had been suffering from drought conditions. Others had geared up for high production, but after the end of World War I (1914–18) they found that the international market was overstocked and prices fell so low that they could not make a profit on their crops. The banking industry also made mistakes in too freely lending money, especially to foreign countries trying to rebuild after the war. These countries had trouble repaying their debts. To make matters worse, the United States (and other industrialized countries) charged high import taxes on goods that other countries offered for sale. These taxes prevented countries from selling the goods they needed to earn the money to repay loans from U.S. banks.
Will we never learn?
Source: http://www.enotes.com/history/q-and-a/what-was-black-tuesday-286639 comment by “fact-finder.”