12-27-2008, 04:44 PM
Numbers get thrown around by the media. I heard 4% a couple of days ago. Today I heard 8%.
The biggest problem is our economy (along with China's and India's) are not geared to the US slowing down at all. It's set up for us to spend, spend, spend.
Now, things have come to a screeching halt in some areas of our economy. People are thinking long and hard about whether to spend or not and they are searching for the best price if they do spend.
Until consumer confidence is restored; it's going to be pretty rough.
Some of this is good because maybe it will cause people to saving again instead of only spending.
The biggest problem is our economy (along with China's and India's) are not geared to the US slowing down at all. It's set up for us to spend, spend, spend.
Now, things have come to a screeching halt in some areas of our economy. People are thinking long and hard about whether to spend or not and they are searching for the best price if they do spend.
Until consumer confidence is restored; it's going to be pretty rough.
Some of this is good because maybe it will cause people to saving again instead of only spending.