The decline in gas prices may be all that saves this year’s end-of-year consumer spending blitz from a catastrophic shortfall. The real unemployment rate is dangerously high.
Everything I've seen/read has been that black Friday was a bust, online sales are better than last year but brick and mortar sales are in the crapper. People are also saving more, spending less.
Doesn't bode well, does it? You're correct that the real unemployment rate is still dangerously high, and it's generally agreed that the REAL unemployment rate is still over 10% while the workforce participation rate is at 40+ year lows.
This "economy" (or lack thereof) has been an 8 year long powder-keg ready to blow, and NOT in a good way.