On Thanksgiving Day, 2008, shoppers began lining up outside the Wal-Mart in Valley Stream, Long Island, at 5:30 P.M., near a small, handwritten sign that read “Blitz Line Starts Here.” Like many other retailers holding “doorbuster” Black Friday sales, Wal-Mart was offering deep discounts on a limited number of TVs, iPods, DVD players, and other coveted products. Only two months earlier, the U.S. economy had nearly collapsed, and although the Christmas shopping season was looking dismal, there was still some dim hope that the nation might be able to shop its way out of disaster, as we were advised to do after 9/11.
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