Shopping!

The South Puget Sound licking its retail wounds.

The National Retail Federation forecasts that nationwide, consumers will spend 1.9 percent more this year than last year, the lowest increase in consumer holiday spending since 2002, the federation said.

The International Council of Shopping Centers predicts a 1.7 percent increase over last year.

"The 2008 holiday season will be challenging for many of our nation's retailers, but relatively good for discounters and wholesalers as consumers focus on basics and value," the council said in a news release.

These trade associations get memberships by their rosy 'can-do' forecasts. (Remember the NAR for the last two years?) I doubt very muchwe'll see increases over last year. On the other hand, the government layoffs may take effect closer to Christmas so some people may do their shopping before seeing the exit door.

As usual, the industry has all sorts of great proposals to stimulate confidence.

Retailers are offering discounts earlier this year and are catering to consumers looking for value, but that won't be enough to stimulate much sales growth, she said.

She thinks the U.S. Congress should consider another stimulus package for consumers. Earlier this year, federal government stimulus checks for $300, $600 and $1,200 were mailed out to individuals, couples and families.

"They need to take steps that give consumers some confidence, and they need to give Wall Street some confidence so it stops gyrating," she said in reference to the recent seesaw movements in the Dow Jones industrial average and other stock indexes.

"Those two things need to happen to still the worry we have," Teague said.

Yep. Everyone wants their bailout these days. It's the solution for 'everything'.