Christmas is going to be a disaster this year. Companies have sold down their front-ran inventory, and now the “deals” are already set. Average tariff of 20%. Even higher if you’re China heavy. Imports have been falling off a cliff for months now, so there’s no restocking happening to save the shopping season. Either, prices go way up and volume goes way down. Or prices stay flat and corporate profit margins get annihilated. It’s August 7th. The holiday shopping season is 90 days away. It’s too late. We’ve made our bed and now we must lay in it.