According to the Atlanta Business Chronicle, consumer confidence hit a *16 year low* in May. The monthly index now stands at 57.2, down from 62.8 in April. And the prediction is that it’s only going to get worse, with gas prices skyrocketing and the real estate crisis..
Comments on this Entry:
(innerredneckexposed on
May 28, 2008 12:13 PM)
themselves.
(CatherineAtlanta on
May 28, 2008 12:17 PM)
Says Lynn Franco, Director of The Conference Board Consumer Research Center: “The Consumer Confidence Index now stands at a 16-year low (Oct. 1992, 54.6).”
October 1992, after 12 years of Republican Presidents and here we are 16 years later at the end of 8 years of a Republican President.
(odinseye2k on
May 28, 2008 5:16 PM)
Funny how when you set policies to screw the middle class, they stop feeling like spending the money they don’t have.
Although I do have to tip the hat to IRE a little on poor foreplanning (SUV’s) and negative savings.
You can’t reduce your exposure to health care needs (the real cause of out-and-out bankrupcy), but there are many truly middle class folks that have overstretched themselves.
There’s no real excuse for an economy that’s as unfair as ours has been of late.
(odinseye2k on
May 28, 2008 5:27 PM)
And while the above looks like it contradicts itself - there’s a major difference between assigning personal responsibility for problems and what makes sense economically for a country that derives a large majority of its spending from consumer products.
First, you need to make those products here, and then you need to give people the discretionary income (and the temperament, see Germany) to buy them.
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