Business Insider reports that 39% of Americans believe the US economy has now entered "permanent decline" according to a new poll from CBS and NYT. That particular stat was
tweeted out by CBS' Mark Knoller.
- Obama's approval is down to 47%.
- Disapproval is at 44%.
- 63% of the country believe it is headed in the wrong direction.
- Just 28% believe it is headed in the right direction.
- 2/3 of GOP voters are not enthusiastic about any candidate.
Steve Kurlander noted in the Sun Sentinel that US
consumer spending failed to rise at all in May and personal expenditures increased $4.6 billion, or less than 0.1 percent. Instead of using credit cards, Americans are now using debit cards more - over 37 billion times vs 19 billion credit cards transactions last year.. Unfortunately the same devious, and basically unregulated financial institutions, which came close to destroying the world economy are continuing to soak the public.
Consumers are now even being penalized by banks for practicing frugal purchasing habits. At the same time the Fed and State Legislatures are still allowing financial institutions to charge what could be called "criminally unjustified" fees.
EU-Digest
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