Consumer confidence plummets

Consumer confidence plummets

www.msnbc.msn.com

NEW YORK - Americans' outlook on the economy went into relapse in February. Rising job worries sent a key barometer of confidence to its lowest point in 10 months, raising concerns about the U.S. economic recovery.

The Conference Board said Tuesday its Consumer Confidence Index fell almost 11 points to 46 in February, down from a revised 56.5 in January. Analysts were expecting only a slight decrease to 55. It was the lowest level since the index recorded a 40.8 reading in April 2009.

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There is NO RECOVERY!! WAKE UP AMERICA!!

I'm really beginning to think it's hopeless...Endless wars in the middle east, Jobs bills (wtf was the stimulus bill), banker bailouts, the killing of innocence by our military (27 more innocent women and children killed yesterday), what appear to be fairly normal people getting into planes and flying them into IRS buildings. It just goes on and on and on....oh but how is Ellen doing on American Idol? We are screwed....

www.msnbc.msn.com
(visit the link for the full news article)

Get a grip. Christmas and holiday season over. Back to normal, steady growth. Buying of necessities, being thrifty and spending only on the necessary. It's only the ordinary folks that is keeping the economies afloat, with their spending and tax funded economic injections.

The rich class, unfortunately, are still hoarding their money. May they be able to take it with them into the next life, since they easily delude themselves that the hoard will keep 'em alive if things really go downhill.

So spending was up during the holidays because people feel the need to buy gifts and enjoy family time w/parties which is fine, but the spending was no-where near what it used to be.

Then the big finanial brains tell us that all is getting better thinking that the dumd sheep will follow and continue to spend on the debt cycle, but the people are more aware than ever now.

Keep being frugal with your money people!!! Live within your means.

Wall Street Bonuses Rise 17%

online.wsj.com...

U.S. Bank Industry Still Suffering, FDIC Says

online.wsj.com...

im not going to go out and buy snazzy stuff if i need to watch my money!!!,
this is why people are running scared

My advice, be frugal, but not too frugal...spend the extra little bit and shop at a mom and pop shop verses a megacorp walmart or some such local economy killer.

Balance value with community. Government should not be looked at as our salvation, its our personal shopping and living patterns that need to be addressed.

Sure, places like walmart may save you an extra 10 bucks for every 50, but it also causes mass shutdowns of your local downtown areas.

It's ok. Buy necessities. Don't deprive oneself of it. Or one may end up paying more, such as falling sick and paying the doctors for their new golf clubs and beach front homes.

Time to tell those ex-bums, ex-painters, ex- waitress, etc who turned into multi-millionaire actors/actress to take out some of their monies and start creating jobs for society. They are where they are today because of public support, otherwise they would have remained bums.

Time to tell those professionals - doctors, lawyers, professors, etc, to take out their monies and start creating jobs. There are millions of them. Their pooled resources will save the economy. Once money circulates, with more people get jobs, they will dare to spend a bit more, and the economy will be saved.

This is a social obligation every citizen has a responsibility towards. Many claim they will stand up for their country when needed. The time has come to see who will really be the ones to do so.

This is nothing new. During the asian financial crisis of 97, the common thais donated their precious gold to society through their elected representatives -the govt - to help fund recovery. Even old grandmothers living in desert huts gave up their precious wedding heirlooms of gold rings or simple jewellry.

Will US, an advance civilisation and culture, have similar patriotism or bickering, pushing the blame and fear mongering is the norm?

Originally posted by SeekerofTruth101
Get a grip. Christmas and holiday season over. Back to normal, steady growth. Buying of necessities, being thrifty and spending only on the necessary. It's only the ordinary folks that is keeping the economies afloat, with their spending and tax funded economic injections.

The rich class, unfortunately, are still hoarding their money. May they be able to take it with them into the next life, since they easily delude themselves that the hoard will keep 'em alive if things really go downhill.

Yea the consumer class doesnt have it to spend! Its not about confidence. The guys that make eggs and milk are doing ok but non essentials are not.

reply to post by SeekerofTruth101


That's like buying a stock and telling everyone else to do the same so you can sell high and profit. Futile. Fail.



And I didn't know there are deserts in Thailand.

[edit on 2/23/2010 by eldard]

Wait, Wait, I'm confident.... No wait... I'm sorta confident....Ok, hell, I'm really not that confident.... "Confidence"??? Whats that??

" A progression of the American Consumer "