So, what could this mean for the normally healthy, holiday shopping season? In our view, seasonal retail shopping will likely be anemic. Evidence from recent surveys indicates consumers intend to use cash for their holiday shopping expenditures this year at a much higher rate than in the past. This from bills.com on November 3, 2009 (highlighting once again mine):
A recent report shows that consumers are planning on minimizing credit card debt during this holiday season. Read more »
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This is an excerpt from my “Moving Markets” newsletter for the month of November. If you’d like to get a complimentary subscription to receive each issue as it’s released, click here: www.usawealthmanagement.com.
The pool of consumers that are able to spend and contribute to the economy’s recovery is diminished and may even be shrinking. To make matters worse, consumers with jobs that have the ability to spend just aren’t spending at the same levels they previously had. Many consumers are focusing on paying down debt. An article published by the Associated Press on October 7, 2009 written by Christopher Rugaber stated the following:
U.S. consumers reduced their borrowing for the seventh straight month in August, as households trim spending and banks reduce credit card limits. Read more »
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The following is an excerpt from my November “Moving Markets” newsletter. If you’d like a complimentary subscription click here: www.usawealthmanagement.com.
After this was written, the Federal Reserve predictably left interest rates unchanged.
The following excerpt was taken from an AP story on November 4, 2009 (emphasis mine):
Faced with lurking dangers to the budding recovery, Federal Reserve policymakers are sure to leave a key interest rate at a record low to entice Americans to spend more and help the economic turnaround gain traction. Read more »
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