Posted on 05/04/2010 9:52:42 AM PDT by US Navy Vet
Even as the economic recovery plods ahead, many American consumers are refusing to come along.
They're not spending freely -- and they have no plans to.
Many of them have steady income. They aren't saddled by high debts. They don't fear losing their jobs. Yet despite recent gains, they've lost so much household wealth that they're far more cautious about spending than before the recession.
(Excerpt) Read more at finance.yahoo.com ...
Economic recovery - when did that happen?
You get it. Most of us on FR get it. It’s just the “experts” who don’t.
Prosperity is just around the corner! Get back to work, Old Boxer.
I think a lot of people did not get the invitation to that party...
Don’t forget that folks no longer can tap into the bubble-generated increase in home equity for borrowing.
Debt free and loving it here! I’m just waiting for them to come tell me that I’m not allowed to have so much savings.
This is now version 15.0 of the MSM trying “the recession is over” scam.
What the....when did the recession end?
P.S. I enjoy working with the people at Wal-Mart. They're good folks who care about what they're doing. That said, it's hard making ends meet with 1/4 of my income from last year.
The recession only applied to NYC. Once NYC was in the clear the rest of the country did not matter.
CNN, MSNBC, FNC, FBC, CNBC only care about NYC
Well, let's see what's on the minds of typical American consumers.
Prospects of KEEPING jobs, uncertain.
Prospect of getting new job if current one is lost, unlikely.
Prospect of current (and alleged) president encouraging commerce, business growth, or even a non-toxic business environment, less-than-remote.
Prospect of oppressive laws and rules to squash any flickering flame of actual business recovery, 100 percent.
Need to save for off-shore medical procedures in golden years, 100%
Hedging against certainty of inflationary tsunami in the economic offing? 100%
Frugality? If fear can be included in that term, oui.
.
It’s also because some people are already having to, or expecting to have to directly help relatives or close friends financially. And there’s also a social sensitivity factor: when many of your friends and family are struggling, it’s pretty uncivil to be buying new clothes, cars, and electronics that you obviously don’t really need.
Bad economies are all in your head you see.
And the tacit implication is that if you refuse to spend your money during a socialist administration, then the government is just going to have to spend it for you.
what recovery??
“Economic recovery - when did that happen?”
Exactly.
A lot of Americans are out of work, so frugality is the only option. And many of us who are working, know it’s going to get a lot worse with a communist in the White Hut.
“I’m just waiting for them to come tell me that I’m not allowed to have so much savings.”
They won’t tell you straight out, but you will be punished, you can count on it.
It is over,....for the MSM.
all the job cuts are done at abc and cbs so the survivors are celebrating.
If the recession (DEPRESSION) is over, why is Obama stealing the 401k’s?
“This is now version 15.0 of the MSM trying “the recession is over” scam.”
I’m over 50, and I have never seen the media try to will us into a recovery like they are doing now. The State Controlled Media must honestly believe that if they say it long enough, and loud enough, they can will consumers into spending, and cause a recovery.
Stupid communists.
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