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By Colin Barr, senior writer
NEW YORK (Fortune) -- The cash registers were ringing on Black Friday, but make no mistake: American consumers are jittery, and seem all but certain to push the U.S. economy into recession.
After years of living happily beyond their means, Americans are finally facing financial reality. A persistent rise in energy prices will mean bigger heating bills this winter and heftier tabs at the gas pump. Job growth is slowing and wage gains have been anemic. House prices are sliding, diminishing the value of the asset that's the biggest factor in Americans' personal wealth. Even the stock market, which has been resilient for so long in the face of eroding consumer sentiment, has begun pulling back amid signs of deep distress in the financial sector.
IMHO the American public is being set up by the Fed to accept the demise of the dollar in order to issue in the NAU and Amero.
Originally posted by mythatsabigprobe
In the story it's clear these people have no way or any inclination to repay the money, but will grab at any straw to try to keep afloat.
"They were having a big fight. Two ladies was jumping a lady over credit cards," witness Sylvester Wilson said.
Nearly a dozen Wauwatosa squad cars responded to the call just before 11 a.m. Saturday for what was called a large fight in progress.
Bernanke Hints Further Rate Reduction May Be Needed to Head Off Economic `headwinds'
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke on Thursday hinted that another interest rate cut may be needed to bolster the economy. The worsening credit crunch, a deepening housing slump and rising energy prices probably will create some "headwinds for the consumer in the months ahead," he said.