Is the U.S. economy really that bad?
Of course not.
I have been saying this for the last year.
We have to recognize that what is happening is shear panic.
It basically boils down to big bank against big bank.
Of course, the media helps stir a frenzy of panic, where consumer spending in low.
Great. Low consumer spending means we are smarter about what we buy and some of us might even be saving money for the first time in a long time. Good job everyone.
Look at the price of a barrel of oil. It is low.
Of course we are saving money. We are saving money at the pump and we are freaked out at spending anywhere else, so naturally, we are saving money and consumer spending is down.
But let’s recognize whey consumer spending is down…I’d like to think it’s because we are smarter these days.
It’s not the end of the world people.