[RobinMasters]

[WayneS]

This news is bound to put a damper on the ‘recovery’...

[Squidster]

Let’s see. Inflation is heating up, spending has been flat until this month, unemployment continues to over 9%. What’s to like?

Look at this guy’s pictures:

http://confoundedinterest.wordpress.com/

[cvq3842]

Yup. Obama’s lucky Drudge didn't post a picture of Obama eating his Kobe beef and other expensive delicacies . . .

[Windflier]

"Confidence among U.S. consumers plunged in August to the lowest level since May 1980..."

I see history repeating here...

[Wuli]

This is not a great statistic.

On the other hand, if we think we are going to build the best economy we can by again having consumer-consumption representing 2/3rds of the domestic economy, we will get right back to where we started - borrowing to spend more than we earn, individually and as a nation.

What is needed is “capital formation” which means saving, whether as a business or as individuals.

We will never get the debt down - all the forms of debt - if “the nation” does not become frugal again.

That is the only way we will spend and borrow less and build the capital to make a larger portion of our acquisitions from our own capital, leaving ourselves less in debt.

So, if consumers spend less then fine, some Chinese workers will have to be laid off.