The Battered American Consumer: Even The Upper Middle Class is Feeling Economic Pain

The Battered American Consumer: Even The Upper Middle Class is Feeling Economic Pain

www.alternet.org...

The mood of economic unease has encouraged even the wealthiest 10 percent of Americans to reconsider their spending, which in 2006 represented 1 out of every 4 dollars spent. The Harrison Group, a market-research consultancy firm, and American Express Publishing found in a June survey that 80 percent of these higher-income households are now looking closely at spending, up from 68 percent in April.

"Even the upper-middle class -- with disposable incomes of $100,000 ... are fearful for their future and concerned whether they can weather the economic storm, continuing to live the lifestyle they are currently enjoying," says Burr Brown, vice president at Harrison. "They have become savvy consumers, looking for value." The survey found 82 percent now waited for sales before buying preferred-brand products.

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[edit on 20-8-2008 by DimensionalDetective]

But Remember folks! Still NO RECESSION! Gotta have the pie-charts showing the correct numbers and two negative quarters of growth, according to the liars and numbers manipulators in the gov! And according to them, the economy just keeps growing, month after month, no matter what the jobless, homeless, and broke populace says! LOL

And now they'll be ignoring the upper middle class too as well!

Smart consumers should accept that the economy's challenges are long term, calling for a major downshift in spending. Current borrowing and debt levels are unsustainable. Recognizing the economy's new challenges, spending less will become a necessity.

www.alternet.org...
(visit the link for the full news article)

[edit on 20-8-2008 by DimensionalDetective]

Oh no!!!
Then they will have to live like the rest of us......

.....poor.

Yup I can say that I am officially feeling the pain. Ive had to lay off more employees and I hated to do it and it crushes me. I went from a place of almost 30 employees to 12 now because of this whole ordeal. Ive cut back huge in business and personally and I do not see an end in site. But hey there is no recession no story here so move along my little sheeple.

We're definatly feeling a slight crunch in the pockets of my wife and myself.

The good part is that its cut way back on our spending, just because of the uncertainty of all of this.

While the democrats argue with the republicans about what is going to make our economy better, meanwhile pumping billions into foreign affairs, we get to set on the message boards and talk about it

I'd be curious to know if anyone has taken the "next step" as i have and started writing these people on a weekly basis.

Nancy Pelosi
George W. Bush
Barack Obama
John McCain
Hillary Clinton

its the same email just with the name changed every time

guess what?

I haven't received a response yet - but im still trying dang it.

I'm really sick and tired of paying more money out of my pocket - so congress and the president can do LESS and reap more.

Pathetic.

Originally posted by Andrew E. Wiggin
We're definatly feeling a slight crunch in the pockets of my wife and myself.

The good part is that its cut way back on our spending, just because of the uncertainty of all of this.

While the democrats argue with the republicans about what is going to make our economy better, meanwhile pumping billions into foreign affairs, we get to set on the message boards and talk about it

I'd be curious to know if anyone has taken the "next step" as i have and started writing these people on a weekly basis.

Nancy Pelosi
George W. Bush
Barack Obama
John McCain
Hillary Clinton

its the same email just with the name changed every time

guess what?

I haven't received a response yet - but im still trying dang it.

I'm really sick and tired of paying more money out of my pocket - so congress and the president can do LESS and reap more.

Pathetic.

I email mine once every week or two and I never get a response. They dont want to debate a citizen who actually knows what hes talking about. BTW mine is Tim Mahoney a Democrat.

Yes the economy sucks.

There was a recent story in the news here that the president, of the local major leauge baseball team, was forced to buy a Hybrid Chevy Tahoe so that they could save some gas money.

Apparently they are also struggeling with two multi-million dollar mortgages seeing as how they are unable to sell one of thier mansions.

[edit on 20-8-2008 by In nothing we trust]

It's hard to feel sorry for people who have 100,000 plus of disposable income, but I guess there's a bright side. If that segment of the population is unhappy they will damn well do something about it, and have the clout to do so.

At one time briefly, I was in the upper Middle class economic bracket.

But now thanks to the President and his incompetent band of neo cons and their economic policies of greed and dispensation to their corporate pimps; I am much worse off than I was even during the Bush l administration. "Read My Lips"


Like mybigunit, I have had to lay off my few helpers and am seriously thinking of filing chapter 11.

Some people may be making changes for ethical reasons. Some people buy hybrids because it is the responsible thing to do. Everything isnt' always about money, though I know that is up for debate.

Our economic downturn has taught us that we couldn't keep spending at the insane rates we were and now people, whether they can afford it or not, are cutting back.

Personally, we are screwed. I am even selling comic books cuz we can't pay rent. Between school loans for a job that doesnt create money, to double food and gas expenses, and 1000k a month for health insurance, we are going into the red.

reply to post by Andrew E. Wiggin

I have written to the same type of emails to mine. No response. In fact, I have never recieved a response from Senator Blanche Lincoln (D-AR) in the entire time she ha been in office. I have only received 1 reply from Mark Pryor(D-AR) and that was when I wrote him concerning the Disclosure Project. It was quite rude. They have completely ignored letters concerning the economy, alternative energy, and off shore drilling.
Needless to say, I will be activly campaigning against both of them when they come up for election.
They obviously don't care what their consituents think.

Originally posted by nixie_nox
1000k a month for health insurance, we are going into the red.

Get rid of the health insurance and save yourself $12,000 a year.

They won't pay for anything anyways. The insurance company will find ways out of paying for most of the bill anyways if you have to use it.

Me and my family haven't had health insurance for over 7 years now. We don't miss it at all.