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Monday, 10/5 Recap of Consumer related news

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More on consumer spending, jobs, and the economic recovery

Roubini: Forget The V-Shaped Recovery...But Get Ready For The U-Shaped Recovery! ( )
Nouriel Roubini used to be known Dr. Doom. These days, however, he insists he is a "realist." What does that mean? Well, it means that he doesn't think we're in for a V shaped recovery but he doesn't think we're going L shaped either.

Is the Economic Storm Over? Consumers Weigh in on the “New Frugality” ( )
Jane Crossan, Vice President, Practice Leader, Financial Services, The Nielsen Company For the past six months we’ve seen and heard about the recovery of the U.S. market: the DOW has ticked up and the Fed chair has said the recession is “likely over.” But ultimately, the consumer will determine when our economy is back on track when you consider that consumer spending accounts for roughly 70 percent of U.S. economic activity.

The end of Kobe beef burgers, or how thrift stole Christmas ( )
Frugal is the new black, according to everyone from David Rosenberg to the US consumer and the beleaguered retailers. Consider the following piece, which appeared in the New York Times on Friday:

Rethinking the American consumer ( ) ONE thing that's worth remembering as we discuss the recovery (something I often have to remind myself) is that American spending on consumption was primarily focused on what one might call necessities.

Is the U.S. job market broken? ( ) Is there a “new normal” for the American labor market? Are the days of an unemployment rate of just 4 to 5 percent a thing of the past? That is the contention of some economists who see the sharp rise in joblessness during this recession as a warning sign of structural changes in the job market.

Unemployment Becoming Leading Indicator for Pimco’s New Normal ( ) Oct. 5 (Bloomberg) -- Mohamed El-Erian says economists are wrong to dismiss unemployment as merely a lagging indicator, a sign of where the economy has been. For the chief executive officer of Pacific Investment Management Co., the 26-year high jobless rate is also an omen of things to come.