Just as Americans begin to examine what President Obama’s health care overhaul is about to do to the U.S. economy, consumer spending reportedly stalled in May for the first time in six months.
Americans' confidence in the economy plunged the lowest in eight months in May, showing new concerns about a soft jobs market as housing and stock markets paint a broader picture of economic instability.
Economics is the science that got lost in itself and still can't find the way out. The theories, the principles and the machinery of a lost world are now still clanking on, ineffectually. The science bleats on as the machine falls to bits.
In his latest effort at acquiescing to the Republican party, President Barack Obama on Wednesday bowed to the demand of House Speaker John Boehner, who told the president to move his Joint Session of Congress speech to another night.
Wince upon a time, there were things called consumers, who had confidence. Now, they live in burrows and cereal packets (some are employed as toys) and are sometimes trapped and asked for their furry little opinions.
Retailers bemoan recent trends where people are buying less than they did before. Given the recession and its consequences, economists point to issues of confidence as the reason for this. But what might be the root cause of the problem?
Consumer Confidence is at its lowest point since the malaise-riddled year of 1973. “Looking ahead, consumers' outlook for business conditions, the job market, and their income prospects is quite pessimistic."