Bah, humbug! High energy prices, the housing slump and worries about a recession may not have much of an effect on holiday sales this year.

The International Council of Shopping Centers is expecting sales growth of about 4.5% in November and December, down from 4.8% in 2006. The National Retail Federation last week estimated sales growth of 4.0%, vs. the 10-year average of 4.8%. 

"This doom and gloom from housing to the wealth effect to energy prices, all of it is just so much talk," say Conference Board economist Ken Goldstein, with some exasperation.

Read Full Story