Consumer Spending Down Again
[...]
Consumer spending is closely watched because it accounts for two-thirds of total economic activity. Many economists believe that the country will suffer a mild recession in the first half of this year as the economy is unable to withstand the blows from a prolonged slump in housing, record-high energy prices and a severe credit crisis brought on by soaring mortgage defaults.
[...]
The right wing, free market, deregulated privatized, globalized outsourced, regressive tax system theory that 10 to 20 percent of the population can sustain consumer spending while everyone else slips through the cracks is tested and fails.
Consumer spending is closely watched because it accounts for two-thirds of total economic activity. Many economists believe that the country will suffer a mild recession in the first half of this year as the economy is unable to withstand the blows from a prolonged slump in housing, record-high energy prices and a severe credit crisis brought on by soaring mortgage defaults.
[...]
The right wing, free market, deregulated privatized, globalized outsourced, regressive tax system theory that 10 to 20 percent of the population can sustain consumer spending while everyone else slips through the cracks is tested and fails.
Labels: Right Wing Economic Policy. Declining Dollar. Globalization. Free Market.
posted by TheFuriousGourmet | 7:01 AM
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