The Great American Shopper Hit a Wall, by James Cooper

[joel123]

http://www.businessweek.com/magazine/content/08_51/b4113010266237.htm



"The unprecedented falloff in spending means the consumer is leading the economy into one of the harshest recessions in 60 years."

[ochati]

This article is rather disturbing for me. The reason: the US and world economy are so dependent on the US consumer, that is you and me buying products. If we don't spend, businesses suffer. But if we spend like in the recent past, many over-do and suffer financially.

This is a dilemma discussed many times here on the board. But the conflict is now more relevant than ever. Somehow the US and world economy must wean itself off the US citizen.

[pictureperfect]

Definitely a popular line of discussion here on the board. Rightly so.

If there is to be a change, I suspect it will be from the ground up. The average American citizen will simply change their behavior as a result of seeing change as in their best interest. I doubt it will be because of some grand policy change or economic revision. And certainly not because of a change in the business model of companies.

I wonder if we as a country are too far gone to let go of our spending habits and the underlying need to consume?