Housing slump, fuel costs weigh on consumers

[Roon]

Drop in spending could drag down overall economy

ST. LOUIS - Fresh evidence shows that high energy prices and sagging home values are pinching the main driver of the of the U.S. economy — the Average Joe’s wallet.

Retailers and economists say many Americans are waiting to buy big-ticket items and cutting back on frills. Homeowners are shelving plans to remodel kitchens. Families are dining out less and tightening their budgets.

“People are taking funds from one area and committing them to another, gasoline and utilities in particular,” said Gregory Miller, chief economist at Sun Trust Bank Inc. He predicts growth in consumer spending will fall from a rate of 2.5 percent to around 1.5 percent during the second half of this year, bringing down overall economic growth at the same rate.
http://msnbc.msn.com/id/14515702/

[ixion]

1. Dick Cheney's 'Energy Task Force' in action

:grr:

[The_Casual_Observer]

2. Last year, before jr's numbers slid, the experts claimed that energy

prices were irrelevant in today's economy. Those words flew in the face of all reason and common sense.

[Roon]

3. I told a freeper that he better hope the economy is improving

because he is going to need it for paying for gas (this was way before it hit 3.00) he told me that I was crazy!!

I would gloat, but he's dead now.

[Upfront]

6. A Good Freeper

is a---na, I won't go there.

[Porcupine]

4. Well Average Joe needs to get his head out of his @$#

before he's treading water. Average Joe lives within 20 miles of the Atlantic or Pacific Coasts. Global Warming is gonna come get him even consumer spendig growth comes to a complete halt.

So anything in the here and now that gets him thinking like a cross between an Amish farmer and a high-tech ultra light backpacker is going to help him in the long run. Being too broke to drive his big-ass SUV to the Sam's Club is going to help him and his in the long run.

Wake up Joe!
Go! lemmings Go!

[taquinas101]

5. There Is Always The Embrace The Evil Econ Strategy . . .

Where you simply invest in the dirty rotten scoundrels who directly benefit from BushCo's policies. Despite the fact that the middle class's real income has stagnated under Bush, and have had increased debt, Halliburton and Exxon have managed to profit very nicely from the war on terror and have doubled their stock price during these troubled times:

http://finance.yahoo.com/q/bc?s=HAL&t=5y

http://finance.yahoo.com/q/bc?s=XOM&t=5y

This gives me an idea. Perhaps we ought to create the war machine index fund comprised of oil companies and arms manufacturers. Instead of socially responsible index, we would have the Socially Irresponsible and Evil Index. We could even provide a nose-clip for all the folks who invest.