1prophet
Diamond Member
- Aug 17, 2005
- 5,313
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http://economywatch.msnbc.msn.com/_...rds-to-boost-spending?chromedomain=bottomline
This guy here sounds like a real party pooper, how dare he question good news by looking a gift horse in the mouth.:whiste:The daffodils are up, the job and housing markets are improving, businesses are more upbeat and consumers are getting back in a spending mood.
Unfortunately, American households are dipping into savings and tapping credit cards to pay for their latest shopping spree. Unless their paychecks begin expanding at the same pace, the new spending, and the boost it's giving to the economy, may not be sustainable.
"While households want to spend and will raid their bank accounts to support that habit, unless income gains start improving consumption will have to slow," said Joel Naroff, chief economist at Naroff Ecoomic Advisors.
