red states rule
08-29-2011, 03:38 AM
The Washington Post is only about a 1 1/2 years late with this story. When did most voters NOT have worries about their econoic future of America and thier future as well?
Obamanomics has driven the economy even deeper into the ditch and the prospects for a rebound anytime soon are bleak
While the Dow Jones industrial average and the unemployment rate get more attention, the shoppers outside a Wal-Mart in Northern Virginia offered a taste of what some economists believe is the more immediate reason that the U.S. economy may be on the verge of another recession (http://www.washingtonpost.com/business/economy/stock-markets-are-walloped-by-another-sell-off-as-fears-of-second-recession-build/2011/08/18/gIQAtwJZOJ_story.html).
Americans are still spooked.
More than two years after the recession’s official end, people are driving their cars a year longer, holding back on jewelry and furniture, and swapping brand names for cheaper store brands at the supermarket.
More ominously, the once sturdy optimism of Americans appears to have crumbled, according to one key measure. Breaking from precedent, Americans no longer believe they will make more money next year than this year, according to the University of Michigan’s Surveys of Consumers.
These expectations used to rebound after recessions; this time they didn’t.
This crisis of confidence, a departure from long-standing expectations of rising American prosperity, is spurring millions of small consumer decisions that collectively determine whether businesses should expand, and in turn whether the recovery will continue to falter.
“I don’t get the Kellogg’s cornflakes anymore,” Robert Sherman, owner of a heating and air-conditioning company, said last week outside a Wal-Mart near Alexandria. “I’m not taking vacations. Why? I’m scared.”
Shah Bahramy, a retired physician who dropped Macy’s in favor of Ross Dress for Less, said, “I’m trying to be as conservative as possible.”
http://www.washingtonpost.com/business/economy/consumer-fears-put-economy-on-the-brink/2011/08/26/gIQAVbzclJ_story.html?hpid=z2
Obamanomics has driven the economy even deeper into the ditch and the prospects for a rebound anytime soon are bleak
While the Dow Jones industrial average and the unemployment rate get more attention, the shoppers outside a Wal-Mart in Northern Virginia offered a taste of what some economists believe is the more immediate reason that the U.S. economy may be on the verge of another recession (http://www.washingtonpost.com/business/economy/stock-markets-are-walloped-by-another-sell-off-as-fears-of-second-recession-build/2011/08/18/gIQAtwJZOJ_story.html).
Americans are still spooked.
More than two years after the recession’s official end, people are driving their cars a year longer, holding back on jewelry and furniture, and swapping brand names for cheaper store brands at the supermarket.
More ominously, the once sturdy optimism of Americans appears to have crumbled, according to one key measure. Breaking from precedent, Americans no longer believe they will make more money next year than this year, according to the University of Michigan’s Surveys of Consumers.
These expectations used to rebound after recessions; this time they didn’t.
This crisis of confidence, a departure from long-standing expectations of rising American prosperity, is spurring millions of small consumer decisions that collectively determine whether businesses should expand, and in turn whether the recovery will continue to falter.
“I don’t get the Kellogg’s cornflakes anymore,” Robert Sherman, owner of a heating and air-conditioning company, said last week outside a Wal-Mart near Alexandria. “I’m not taking vacations. Why? I’m scared.”
Shah Bahramy, a retired physician who dropped Macy’s in favor of Ross Dress for Less, said, “I’m trying to be as conservative as possible.”
http://www.washingtonpost.com/business/economy/consumer-fears-put-economy-on-the-brink/2011/08/26/gIQAVbzclJ_story.html?hpid=z2