geewow

10 Reasons to Believe That We're in a Depression

WOW, Mr. Clark, you sure have stirred up some comments! I have to agree with your assessment. The financial-bank holding crime syndicate has sold out the American people. The economy is revving up for a much bigger down turn next year and the year after. We have sold out to the biggest factory floor in the world--China. We have built their economy at the expense of our own just so we could go on big-time spending sprees, living above our means, borrowing from the banking - lending syndicate, either through our homes, credit cards or banks.

The standard-of-living will fall even further. For those who do not want to really listen to your words, I surely hope they are NOT one step away from losing their jobs, or customers.

eye-on-washington.blog...

Consumer Confidence Index Encourages an Economic Rebound

Let us analyze what went on during May. We had both high school and college graduations. We had family and friends traveling to see those graduating from colleges and universities. Hotel rooms, restaurants, and bars were booked and money spent. People drove or flew to destinations. Money spent. Graduates bought prom outfits, and gifts. Department stores, such as Macy's, saw and increase in receipts. Money spent. Credit card debt increased. College graduates bought interview outfits hoping to land a job in a shrinking and competitive job market. There might have even been college parties to celebrate!! Yikes!

We might even see debt rise-money spent on summer vacations. Often, this is money spent that consumers don't have to spend.

I would say a rise in the consumer confidence index is a head-fake with more underlying concern than positive indicators. What this is showing is that consumers have a desire to revert to old ways of spending what they don't have instead of realizing we have entered a new American paradigm and they just cannot get their arms around it yet.