According to the Atlanta Business Chronicle, consumer confidence hit a *16 year low* in May. The monthly index now stands at 57.2, down from 62.8 in April. And the prediction is that it's only going to get worse, with gas prices skyrocketing and the real estate crisis..
I just hope voters know who they should be holding responsible for this downturn in the economy.
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themselves.
Says Lynn Franco, Director of The Conference Board Consumer Research Center: "The Consumer Confidence Index now stands at a 16-year low (Oct. 1992, 54.6)."
October 1992, after 12 years of Republican Presidents and here we are 16 years later at the end of 8 years of a Republican President.
Funny how when you set policies to screw the middle class, they stop feeling like spending the money they don't have.
Although I do have to tip the hat to IRE a little on poor foreplanning (SUV's) and negative savings.
You can't reduce your exposure to health care needs (the real cause of out-and-out bankrupcy), but there are many truly middle class folks that have overstretched themselves.
There's no real excuse for an economy that's as unfair as ours has been of late.
And while the above looks like it contradicts itself - there's a major difference between assigning personal responsibility for problems and what makes sense economically for a country that derives a large majority of its spending from consumer products.
First, you need to make those products here, and then you need to give people the discretionary income (and the temperament, see Germany) to buy them.
Was at the nail salon today, and they said it's been dead for 2 weeks. I wonder if folks are giving up these frills and extras to economize now.
Jules, the small things are starting to add up to people. Getting your nails done every week is what, $80 a month? That's gas money!
Well every week nails is a bit much, but yes the impact is adding up, and will effect these small businesses all over town.
I've noticed less traffic at the dry cleaners, they complained, less at the stores, less at the Starbucks.. yes this does add up.
again http://www.blogfordemocracy.org/2008/05/consumer_confidence_downway_do.html#comment-10150
Jules, I think I just assumed people got their nails done every week because I can't imagine not chipping a nail after a few days.
Call me decadent, but I have mine done every week.
call me frugal (or a dude) but I have never had my nails done and never will.
dang, every week Jen and Mel. Yet another reminder why I don't date women - good lord ya'll be breaking the bank on the nail salon trips. But since I'm rapidly losing my nails I guess it doesn't really matter now.
Thunder, here's a tip if you, as a dude, ever go get your nails done - don't get the clear polish on top. Just don't.
true story, a girl i once dated was like hey, pay for my nails, I ended it right then.
I don't think I've ever been friends with a girl that had her nails done with anywhere near that frequency. Not saying I avoid 'em - my anecdotal reference set just doesn't include. Of course, not knowing too many with wealthy parents are clearing more than $20k on their own probably also limits this.
Once every couple of months and some emory board in between perhaps, but jeez.
However, I guess my counter-example is a father who got his hands on a new electronic gadget or power tool quite frequently. My mom drilled fiscal responsibility into me as a result.
I rub my fingertips on my orbital sander every few days (mostly to get the wood putty off). Does that count?
Note: I do not get my nails done. I was just assuming that those who did would do it frequently because of chippage.
Now I feel outed.
Every 10 days to two weeks - no exceptions in the summer time! Even if I don't have the fingernails done, the toesies get the works no matter what.
I believe it might be time for Sheriff Jules to post the rules again.