deano

Economic Recession, Consumer Depression

I don't think consumer confidence/depression is that hard to understand if you look at the picture beyond just the data, charts, etc. that have been documented to define the "economic situation". People are down for a lot of reasons, some of which only indirectly have some effect on the "economy":
- Total distrust in our elected politicians
- A war that goes on and on
- A deficit that is becoming enormous
- A country that is slipping in its values with each new generation
- A country that is no longer respected by most of the rest of the world
- Countries that appear to be poised to push the U.S. out of its leadership position in the world
- A negative savings rate in this country
- A lack of knowledge by the average investor in what to do to prepare for retirement
- Federal retirement programs that are totally unfunded
- Disappearing retirement programs from companies
- A dollar that is slipping into a black hole in value
- Home values that are dropping like a rock
- Mortgages that are upside down to the home values
- Medical costs that are sky-rocketing
- Educations programs that continue to get worse
- A country infrastructure that is falling apart
- A president that acted like he was a king and trampled on the constitution
- A gap between the upper and middle class that has been accelerating
- A financial world that is running out of control, demonstrated by the risky investment tools that keep appearing
- Jobs disappearing overseas
- Illegal immigration that is out of control and politicians who don't want to do anything about it
- Food and other imports with real safety and health problems that are coming through a network of inspections that is full of holes
- An automobile industry that appears to be disappearing and hasn't done anything to meet future requirements
- A total lack of a comprehensive energy bill or any organized strategy to get us off our dependence of oil

I know there are other things that citizens of this country are worried about that I haven't listed. I think you could take everything on this list back to some impact on the "economy", but if it isn't directly on the list of what the financial world uses to define "the economy", the talking heads in that world can only scratch their heads and say "What is everyone worried about? The economy is in fine shape." Do any of them really understand the big picture?