Instead of waiting for Americans to spend more money to help the economy, why don’t corporations do something to help the economy? Like, oh say, take less of a profit and raise salaries for workers (not CEOs) or create jobs? I’m sick to death of being thought of as nothing but a consumer to feed the beast.
My husband and I cut back this Christmas. Not because we couldn’t afford gifts, but because there was nothing we needed, little we wanted and we both agreed it was stupid to just think up things to buy. He kept asking me what I wanted and I told him I really didn’t have any great desires and I meant it. We didn’t miss getting a bunch of stuff. I spent more time baking and getting ready for and having a nice get together for the family.
If the economy depends on me opening my wallet and spending it’s got a very long wait. I’ll spend my gift cards I got for Christmas, but other than that, I’m just not interested in shopping. As a matter of fact, I’m going to sell some stuff on Ebay to get it out of my house.
Anybody looking for a good deal on the Beatles Trivial Pursuit game?
WASHINGTON – Americans borrowed less for a 10th consecutive month in November with total credit and borrowing on credit cards falling by the largest amounts on records going back nearly seven decades.
The dramatic declines raised new worries about whether consumers will cut back further on spending, making it harder for the economy to mount a sustained rebound.
The Federal Reserve said Friday that total borrowing dropped by $17.5 billion in November, a much bigger decline than the $5 billion decrease economists had expected.
Americans are borrowing less for a number of reasons. They remain fearful about their job prospects and they are also trying to replenish depleted investments. The government reported Friday that employers cut an additional 85,000 jobs in December, bringing total job losses to 7.2 million since the recession began in December 2007.