Thanksgiving holiday shopping, which is first celebrated not but its rather a financial crisis—more particularly, the collapse of the United states gold market on September 24, 1869—was the subject of the earliest recorded use of the phrase “Black Friday.”In order to drive the price of the nation’s gold as high as possible and sell it for astounding profits, two infamously cunning Wall Street financiers, Jim Fisk and Jay Gould, collaborated to buy up as much of it as they could.
When the plot eventually came to light on that September Friday, it bankrupted everyone—from Wall Street moguls to farmers—and sent the financial markets into a rapid slide. The day after Thanksgiving, known as Black Friday, has grown to be one of the biggest shopping occasions of the year in US. In order to draw customers into their locations, national chain stores typically provide a limited number of money-saving discounts on a selection of products while also providing comparable offers online.
Why is it called ‘Black Friday’? As two investors, Jay Gould and Jim Fisk, inflated the price of gold in order to precipitate a market crash in 1869, the phrase “Black Friday” was first used. As a consequence, the stock market fell 20%, foreign trade ceased, and farmers saw a sharp decline in the value of their maize and wheat crops. The phrase was revived much later and applied to the day among Thanksgiving and the Military game in Philadelphia in the late 1950s and early 1960s. Large throngs of visitors and shoppers would be attracted by the event, necessitating extra time from law enforcement to control traffic.
Black Friday History: The phrase “Black Friday” was first used by Philadelphia police officers to describe the confusion that occurred when a large number of suburban tourists arrived in the city to start their christmas shopping as well as, in some years, to attend the yearly basis Army-Navy football game on Saturday in the early 1960s. The large crowds caused the police to work longer shifts than normal as they handled with shoplifting, traffic bottlenecks, accidents, and other problems. Philadelphia quickly became well-known for the expression “Black Friday”. “Big Friday” is the name that is given to the day by city merchants in the effort to make it look alot better. Black Friday as a term for an increase in retail sales didn’t become widely used until late 1980s, when businesses began to promote the myth of red-to-black profits. According to reports, Black Friday is both the busiest shopping weekend in the US and the day when retail establishments start to earn a profit for year. In reality, the Saturday preceding Christmas was the busiest shopping day for the majority of retailers.
Several shopping holidays have popped up in more recent years to compete with Black Friday, such as Small Business Saturday and Monday, which encourage consumers to purchase online. Offering Tuesday has also become popular to encourage charitable giving.
In the past, Black Friday had a different connotation which had nothing to do with purchasing. Wall Street financiers Jay Gould & Jim Fisk attempted to corner the nation’s gold market in 1869 by buying quite so much gold as they can and at the New York Gold Exchange in an effort to raise prices. The scheme was foiled by President Ulysses S. Grant’s involvement on Friday, September 24. Immediately following the stock market collapse, hundreds of Americans declared bankruptcy.
Another story that gives the custom a particularly vile twist has recently come to light, according to which Southern plantation owners could purchase enslaved labor at a discount on the day following Thanksgiving in the 1800s. Although some have rightfully called for a boycotting of the commercial holiday in response to this story of Black Friday’s origins, this demand is unfounded.
The Evolution of Black Friday Black Friday has evolved over time from crowded streets and overcrowded stores to fevered crowds squabbling over parking spots and the newest must-have toy. How did Black Friday turn into the maddening, excessive shopping occasion that it is now? Black Friday was formally recognised as the busiest shopping weekend of the year for the 2000s, at that point. That honour had previously been reserved on the Saturday preceding Christmas. But when more stores began advertising “can’t miss” post-Thanksgiving specials, and as Black Friday deals got bigger and bigger, American shoppers were powerless to resist the allure of this major shopping day. In 2011, Walmart made the announcement that it would begin selling items on Thanksgiving night rather than opening the doors on Friday morning. Other big-box retailers went into a frenzy after that and rapidly imitated it. Black Friday has grown in size in modern times.
Black Friday vs. Cyber Monday On the Monday after Thanksgiving, a similar custom known as “Cyber Monday” has developed for internet shops. After the Thanksgiving long weekend, shoppers are expected to return to work eager to start shopping. To compete with the Black Friday deals at brick-and-mortar establishments, online companies frequently announce their promotions and specials before the actual day. Now a days, Cyber Monday has became a successful in terms of sales among consumers all around the world. Although Black Friday has since 2019 eclipsed Cyber Monday as the busiest internet shopping day of the year, Cyber Monday had previously held that title. For the first time, and over 100 million consumers made online purchases on Black Friday in 2020, and the proportion of internet-only buyers rose by 44% throughout the course of the holiday season. However, many stores stayed closed on Thanksgiving 2020 due to the COVID-19 epidemic and instead offered Black Friday specials online. According to the NRF, 127.8 million customers made online purchases in 2021 as opposed to 145.4 millions in 2020. Relative to 92.3 million shoppers in 2020, 104.9 million people made in-store purchases in 2021.
The Pentagon has reported that US fighter jets have shot down an unidentified flying object in the Midwest, near the Canadian border. The object was flying at an altitude of 20,000 feet and posed no military threat, however, it may have interfered with domestic air traffic. A statement by Pentagon spokesperson, Patrick Ryder, noted that the incident was the latest in a series of similar events, including a suspected Chinese surveillance balloon that raised security concerns in North America.
The Pentagon reported that a third unidentified flying object was shot down over North America in just three days, and the fourth in a week. The object was brought down over Lake Huron on the US-Canada border at 2:42 pm local time on February 13th, according to a statement by the Pentagon. The recent activity of defence has been sparked by the appearance of a white balloon that was spotted over the US in late January. The balloon hovered over the country for days, leading the US to suspect it was a Chinese surveillance balloon.
On February 4th, fighter jets brought the balloon down off the coast of South Carolina. The latest object that was shot down appeared to have an octagonal structure, with strings hanging from it but no clear payload, as reported by an official to the press.
The object, detected near military sites in Montana, led to the closure of US airspace by the Pentagon due to its proximity to sensitive sites.
General Glen VanHerck, head of the US Air Force responsible for securing US airspace, informed the media that the military was unable to identify the nature, source, or means of staying aloft for the three recent unidentified objects.
General VanHerck, who is in charge of North American Aerospace Defense Command (NORAD) and Northern Command, stated that they referred to the objects as “objects” and not balloons for a specific reason. He added that he wouldn’t exclude any explanation, including the possibility of extraterrestrial involvement.
Legislators are calling for more information regarding the objects that have been shot down. US legislator Debbie Dingell, among other Michigan lawmakers, has stated the need to know the origin, purpose, and reason for the increase in the frequency of these objects.
Heino Klinck, a former US deputy assistant secretary of defence for East Asia, believes the government should be more transparent about these incursions. Klinck mentioned that the challenge for the government is to release information without compromising sources and methods, but it is high time for them to say something. The latest object was first detected over Montana on Saturday evening but was initially thought to be an anomaly.
However, it was detected again on Sunday over the Upper Peninsula of Michigan, moving over Lake Huron. US and Canadian authorities restricted airspace over the lake as fighters were scrambled to intercept and identify the object. Meanwhile, Canadian authorities are searching for the wreckage of the object shot down over the Yukon region.
It has been reported that the President of the United States, Joe Biden, has extended an invitation to the Prime Minister of India, Narendra Modi, for a state visit this summer. The invitation has been accepted in principle, and both sides are now working on scheduling a mutually convenient date. Currently, the visit is in the early stages of logistical planning.
India is set to host a series of events in the lead-up to the G-20 summit in September. This includes several events aimed at showcasing the country’s progress and achievements. Given the significance of the G-20, the state visit by President Biden is expected to be a significant event that will highlight the strong partnership between the two countries.
The visit will also provide an opportunity for the two leaders to engage in discussions on a range of important issues, including trade, investment, and regional security. India and the United States share a strong relationship, built on shared values and mutual interests. The state visit will further strengthen this relationship and deepen the ties between the two nations.
The visit is expected to generate significant media coverage and will likely be seen as a significant event in the region. Both sides are expected to take advantage of the opportunity to highlight their respective achievements and to set the tone for future cooperation.
The state visit is expected to last for a minimum of a couple of days and will involve several key events such as a joint address to the US Congress and a state dinner at the White House. Prime Minister Modi has a busy schedule ahead, including participation in the G-20 summit, domestic and international commitments, and campaigning for state assembly elections later in the year.
Sources, who remain unnamed due to the sensitive nature of the matter and restrictions on discussing it publicly, have not disclosed the timing and messenger of President Biden’s invitation to Prime Minister Modi. Biden previously hosted French President Emmanuel Macron for his first state dinner in December.
A senior official from the Biden administration has stated that the President values the partnership between India and the United States, which is seen as critical for addressing global challenges and advancing shared interests.
In conclusion, the state visit by President Biden to India this summer is expected to be a significant event that will reinforce the strong partnership between the two countries and deepen the ties between their people. Both sides are working to ensure that the visit is a success and will contribute to the continued growth and prosperity of both nations.
The Biden administration has announced its plan to end the coronavirus public health emergency in May, signaling a shift in the perception of the pandemic’s severity. The expiration of the emergency will bring both symbolic and practical changes, as millions of Americans have received free Covid tests, treatments and vaccines that may not be available without cost after the emergency ends.
The White House intends to keep the emergency in place for a few more months to provide adequate time for hospitals, health care providers, and health officials to prepare for the changes that will come with its end.
Although Covid-19 is still taking an average of over 500 lives daily in the US, about double the number of deaths during a severe flu season, the pandemic is no longer disrupting daily life to the same extent it once did. This is due, in part, to the increasing number of people who have received vaccinations or have developed some level of protection from prior infections.
The White House is committed to an orderly transition out of the public health emergency. Additionally, the administration intends to let a separate declaration of a national emergency expire on the same day, May 11.
The White House has warned against the sudden end of the emergency declarations, stating that it could result in widespread chaos and uncertainty across the healthcare system. The statement highlights the potential impact on states, hospitals, doctors’ offices, and most importantly, millions of Americans.
The White House emphasized the importance of an orderly transition to minimize disruption to the healthcare system and to ensure that the needs of all stakeholders are addressed. The message serves as a reminder of the ongoing challenges posed by the pandemic and the need for continued vigilance and preparation to manage its impact on public health and the healthcare system.
The White House statement was released prior to a planned vote in the House on a bill named the “Pandemic Is Over Act,” which aims to end the public health emergency immediately. The Republican-led House is scheduled to discuss several pandemic-related measures this week. The White House’s statement serves as a response to the proposed bill, as well as another bill aimed at ending the national emergency.
The disagreement between the White House and House Republicans indicates a likely prolonged political dispute over the administration’s handling of the pandemic. Republicans aim to criticize the Biden administration for excessive spending in response to the coronavirus crisis. Representative Steve Scalise, a Republican from Louisiana and the Majority Leader, has called on the Biden administration to end the emergency declaration immediately instead of waiting until May 11. Scalise believes that the Biden administration has used the Covid crisis as a cover to waste taxpayer dollars on unrelated policies.
However, the White House claims that it is the federal Covid policies, including free tests, treatments, and vaccines, that have improved the control of the pandemic. The officials have reported that Covid was the third leading cause of death from 2020 to mid-2022, but is no longer among the top five killers.
In conclusion, the decision to end the coronavirus public health emergency marks a significant turning point in the pandemic, reflecting the administration’s confidence in the progress made in controlling its spread. However, it also brings with it the challenge of ensuring a smooth transition that addresses the impact of the emergency on the healthcare system and its stakeholders.
