It’s bad news for retailers betting on the shopping season. Last month showed a drop in consumer spending and now consumer confidence is down to a 5 month low.
Consumer spending is down to its lowest point since May. Consumer confidence is at its lowest point since June. The media is shouting about the “fiscal cliff” but most people aren’t following the topic. What they do know is that they can expect another 4 years of the same, thanks to a surplus of voter fraud and welfare voters, and they’re hanging on to their money over the next 4 years, preparing to ride through the storm.
Even punishing Americans with another year of low interest rates isn’t going to drive people to spend money, not when there is no real confidence in the future.
And the situation is similar in the European Union where consumer confidence is also down, as it is across much of the world. There just isn’t anything hopeful about this financial mess and no sign of leadership anywhere to be found.
Even Democrats who dutifully voted for Obama do not poll as believing that the country is headed in the right direction. They chose party over country, but they’re still keeping their pocketbooks locked up tight for the cold winter.