Consumer confidence plunges to lowest on record

Consumer confidence plunges to lowest on record

news.yahoo.com

The Conference Board said the consumer confidence index fell to 38, down from a revised 61.4 in September and significantly below analysts' expectations of 52.

That's the lowest level for the index since the Conference Board began tracking consumer sentiment in 1967, and the third-steepest drop. A year ago, the index stood at 95.2.

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The economic meltdown is taking its toll

The facts are in. We are in a deep recession and on the verge of a depression. The article says this drop is the third-steepest drop since 1967. Wrong! This is the steepest because back then the index was measured every two months.

Things seem to be getting worst folks. I work for local (city) government and today there were whispers in the office about the massive layoffs going on at the county level. Over half the city planners are losing their jobs.

As a nation we need to get back to basics. We need to stop trying to live out of our economic means! Pay off our credit cards if you can. And prepare for the worst..

news.yahoo.com
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