Retail sales tanked in Sept. and killed the market. The worst thing that can happen now is the consumer gets scared and stops spending. We need to continue to go to Disneyland.
Mercor: Retail sales tanked in Sept. and killed the market. The worst thing that can happen now is the consumer gets scared and stops spending. We need to continue to go to Disneyland. _________________________________________________ That's assuming the consumer a) has a job and b) has discretionary income. From 2004-2006 Home equity extraction totaled roughly 600 billion a year. For 2008 - it's estimated to be 100 billion. That's a lot of clams missing for an economy that relies on 70% consumption for gdp. By the way, if we were to measure inflation and unemployment the way we did in the 1970s, we wouldn't be that far off, and yet, we are only in the beginning of this bear of a recession.
A few of the things you listed above don't seem like particularly good ideas (raise taxes?!?) - sometimes doing nothing is the right move. The politicians that scare me are the ones that think that more gov't is the solution to every problem when usually its exactly the opposite.
why must everyone look in the rear view mirrir! lets look forward and stop blaming people for shit that already happened. i am a forward looking "G"...