Friday, June 17, 2011

'Misery Index' at its highest point in 28 years

CNBC: Just how miserable are we these days?

QUOTE: “The good news is that other measures suggest conditions aren't quite that bad and over the next 18 months the gloom should lift a little,” the firm’s chief US economist wrote in a Misery analysis. “The bad news is that households won't be in the mood to boost their spending significantly for several more years.” 

In such a consumer spending-driven economy much of any "recovery" is going to depend on people feeling confident enough to go out and spend money on things they don't really 'need'.  Ask yourself, have you tightened your belt of late?  Gone without things you usually would be buying?  Canceled trips/vacations/etc?  Deferred maintenance on your house/car?  Now think of the multiplier effect throughout the economy and then ask yourself are we really in a Recovery or sinking further into a Recession/Depression?  Who are you going to believe: The Media or Your Lying Eyes? :)

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