Why is consumer sentiment still declining?
Perhaps waning public confidence in government bailouts, stimulus programs, tainted economic data, 17% “real” unemployment and a weak dollar will serve as a reality check for both Washington and Wall Street. But instead of holding your breath, I suggest holding gold. * “US consumers are tapped there has been no sign in retails sales or consumer credit that the drivers of US growth have resumed their seats behind the wheel. The effect of a weak dollar on US exports may be pronounced. Shipments may increase enough to substantially reduce the trade deficit. But the US is not an export driven economy nor is its work force widely engaged in manufacturing. Exports may grow appreciably without it having any noticeable effect on American unemployment,” reports FXSolutions. * “It is highly likely that substantially more jobs are now being lost than is currently reported by the BLS. When we combine the weak job numbers with declining wages, tight credit, record household debt and the impending e
