We are now at the level of no confidence. This is a bad scenario. People tend to hord at this phase. for the consumer shell shocked, savings appears to be the only way out. So they start to pay down debt. It is a fantastic idea. We have been so low on savings that it is about time. Problem is this will aggrevate the already slowing economy. To all of those pundits I say "too bad" the last 10 years was a phantom prosperity and we are headed for tough times but a good foundation to grow from.
"Tea party" this link says it all.
When you get this sort of reaction you know confidence is gone.
For those new here, read past blogs. If you are not, stay the course.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment