(McClatchy) Uncertain consumers leave economy stuck in neutral
Americans - whose purchases account for 70 percent of U.S. economic activity - are spending carefully, and they don't expect to improve their income or job prospects any time soon.
"Going forward, there seems to be a lot of uncertainty," said Joe Flannery, president of Weaver's Inc., a 155-year-old department store in Lawrence, Kan.
He, like other retailers, is watching for a ripple effect on general merchandise sales if food prices rise because of the drought later this year and into 2013.
"I think there is uncertainty about the second half of the year," Flannery said. "I think there is some trepidation."
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Filed under: * Culture-Watch • Psychology • * Economics, Politics • Economy • Consumer/consumer spending • Housing/Real Estate Market • Labor/Labor Unions/Labor Market • Personal Finance • The Credit Freeze Crisis of Fall 2008/The Recession of 2007--
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Posted July 31, 2012 at 5:40 pm
Posted July 31, 2012 at 5:40 pm
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Gee, consumers uncertain, really? How could that be? Our great leader ‘authorizes’ tax deals lasting less than 2 months, he has not prepared a budget which congress would approve for 3 years, he has put my great-grandchildren on the hook for untold trillions (another continuing resolution yesterday ($1,000,000,000,000 more debt), at every turn he tells us how he loathes business. What could make us feel uncertain. He wishes for a totalalitarian nanny state. Dear God, please save us.
From Tolstoy:
August 1, 9:13 am | [comment link]I sit on a man’s back, choking him and making him carry me, and yet assure myself and others that I am very sorry for him and wish to ease his lot by all possible means - except by getting off his back.