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title: ""...Americans spend about $65 billion on winter holiday presents…"
date: 2012-11-28
source: facebook
type: Archer T. Ships shared a link.
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# "...Americans spend about $65 billion on winter holiday presents…

*November 28, 2012 · Facebook*

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[http://www.bloomberg.com/news/2012-11-27/why-holiday-gifts-receive-more-ughs-than-oohs-.html](http://www.bloomberg.com/news/2012-11-27/why-holiday-gifts-receive-more-ughs-than-oohs-.html){target="_blank"}
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\"\...Americans spend about \$65 billion on winter holiday presents every year\...many of those billions are simply wasted, because a lot of people don't much like what they get. Typically the value of a gift, to the recipient, is about 20 percent lower than its cost. He describes the holiday season as "an orgy of value destruction."
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