Black Friday set another record this year. Reporters treated it as proof that Americans still have strength in their wallets and that the economy has life in it. The president called it the “Trump Bump.” The headlines bragged about an eleven point eight billion dollar day and analysts lined up to praise the numbers. None of it holds up once you look at how people paid for those purchases and how much strain sits underneath those sales. A record weekend in a hollowed out economy is not a sign of confidence. It is a sign of how far people will push themselves to give their kids one normal holiday in a year that left them with nothing extra.

The record spending didn’t come from rising wages or cash that families finally had on hand.

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