Posted on 02/23/2010 8:06:58 AM PST by TexasNative2000
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 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.
(Excerpt) Read more at news.yahoo.com ...
There's a very big assumption at work here.....that someone is in charge.
The lack of someone in charge is part of the problem. No responsibility, no accountability, no leadership.
Totally agree.
If you have a business you can't make a reasonable plan.
All we get Obama scary ideas everyday.
Obama has spent the savings of this generation and likely two or three beyond this one.
There is no way to hide this. Of course people know what happens when unsustainable debt is incurred, whether it be by an individual, a business, or a government.
The debt is out there, and the price will have to be paid.
FUBO
By design.
Can you imagine: all those unemployed, under-employed, and given-up-hope-of-ever-being employed folks saying that they aren’t very confident consumers.
With their prospects we should have a “Reverse-Cash-For-Clunkers” sale!
If they bring in the car on which they still owe payments, the fed will let them drive away NO QUESTIONS ASKED with a clunker from last summer that has yet to be crushed.
That should put a smile on everyone’s face!
This destruction of the economy is purposeful and intentional.
I know what you meant. His policies are hurting this country and the congress needs to stop them from becoming law.
Tell me about it. I am hoping to retire in 18 months and have put aside what, for me, is a sizable nest egg.
I worry everyday about what is happening or not happening to it. The bastard in the White House wants to steal it and give it away to others. At the same time, the market bounces around all over the place. The return in the banks is abysmal and I have three pieces of real estate that are barely holding value.
Just a couple of years ago everything looked rosy.
As I said above, something needs to happen to this guy.
Anyone who considers spending money on major purchases with BO’s insane tax increases looming must be a Democrat, thus a total economic illiterate.
Save every dollar you can for the future.
"Unexpectedly?"
Didn't the government just vote for another soul destroying spending fiasco? The number is going to "unexpectedly" plummet even more.
Don't spend. Save like never before. You're going to need that cash - desperately.
Don’t forget that Hillary can get close to him with that hollow ring of hers. AAAACCCKKKK, get another Food Taster!
but Obie and Joe told us all was going wonderful......according to their planned destruction of the US.
Yeah! We should demand that this be declared "unexpected." We got rights!
“Consumer confidence falls sharply”....
Well, that’s a hell of a shock!...Let me see...who wants to spend any money when the socialist in charge is going to take most of it anyway?.....This isn’t rocket science folks!
Who would have thought! ;-0
In construction we are in terrible shape and I don't see it getting better for a long time. Real Estate probably needs to drop another 15% for all types and in residential housing the glut is going to take a long time to sell off.
Re: Save every dollar you can for the future
Agreed. I was working on a 30% reduction in my business budget for FY’10 when this news broke. I’m seeing a retrenchment in business activity at:
- PE’s
- VC’s
- Startups
- Small Businesses with annual rev under $0.5MM
But I do see growth at:
- E&P companies with annual rev over $2MM
- Oil service companies
- Legal firms
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