posted on Jul, 9 2009 @ 02:26 PM
Good article and graphs.
I'm always weary and skeptical of Polls, especially those that are conducted only of the readership of a particular newspaper, magazine, channel, or
website. (Think of how skewed of statistics you would get from a Poll on ATS!) So, upfront I'd be willing to dismiss the USA Today Poll.
However, on the other hand...the only people I personally know, even living in a state with double-digit unemployment second only to Michigan, that
are unemployed are unemployed by choice because they are living in the backwoods waiting for SHTF. The rest of us aren't spending but we are have
been rebuilding our Savings, stockpiling necessities (if our two unemployed friends are right about SHTF), and waiting to see how things pan out.
Personally, after saving for the past year, I'm ready to go out and buy a brand new car at a killer deal and pay entirely in cash. Depending on how
good of a deal I get, I'm going to follow that purchase up with a new DSLR, lots of L-Glass Lenses for it, a new iPhone, a new Computer, a new
Laptop, and a new LED LCD TV. I'm looking at plunking down 3-5 years worth of spending in a single month (maybe in a single week)!
Everyone I know, despite the economy, despite the unemployment has been doing the same. After amassing enough Savings to survive unemployment for 6-12
months without Unemployment Insurance, they are making plans to buy those big ticket items, holding out until the deals hit rock bottom, and timing
them either with Back To School or an early Christmas.
We sometimes forget that the majority of our Economy is no longer based on our GNP, or a Gold Standard, or any tangible measurement. The US Economy
has been almost entirely based on Consumer Confidence entirely. If people spend and do their roles as happy Consumers, then that will boost the
Which gets one thinking...if we spent the bail-out money on the people in the U.S. instead of on the Financial/Banking/Auto Industries, we could have
put $2500 in Cash in each person's hand (or $12,500 per average household). As people would invariably use that money to pay off Loans and Credit
Card balances, or towards the purchase of new automobiles, it would have had the same effect as bailing out the Financial/Banking/Auto Industries, but
in reverse, with a much more profound impact upon improving our economy, rather than the way the bail out had been implemented, which not many people
have seen that stimulus trickle-down to them yet, let alone to the tune of $12,500 per average household.
Don't underestimate Consumer Confidence in the Economy. Our modern Economy is built on it.
However, I agree that Stimulus Bail Out Package Part Deux is not going to help do anything but put our country further in debt, thereby raising
inflation, and shattering Consumer Confidence, unless it is implemented as a Stimulus directly to the people.