Wachovia economist: "Pain for the consumer will be most severe since 1991, possibly since '81-'82"

[Amerigo Vespucci]

Americans on economy: This hurts

Nationwide poll locates sore spots as consumers are knocked around by inflation and gas prices. Consumers hunker down but feel optimistic about future.

http://money.cnn.com/2008/03/21/news/economy/CNN_poll_review/index.htm?postversion=2008032207

NEW YORK (CNNMoney.com) -- Some economists say the United States is not in a recession, but don't tell that to the majority of American consumers.

A national CNN/Opinion Research Corp. poll released this week found that the recent economic downturn has taken its toll.

Americans are driving less and even cutting back on necessities such as food and medicine. The financial strains have led a vast majority of people to believe that the U.S. economy has entered a recession.

"This economic downturn will be relatively mild according to the numbers," said Wachovia economist Mark Vitner. "But the pain and discomfort for the consumer will be the most severe since 1991, and possibly since 1981 to 1982."

You know life sometimes is unfair and you don’t get to play the hand you wanted to play but the question is when you get dealt the hand how do you play it...

(George W. Bush to tornado victims, February 2008)

[havocmom]

1. More like 29-33

And with less on family farms now compared to back then, I see food riots on the horizon in many poor urban areas.

[fudge stripe cookays]

2. I'm thinking Germany around 1919....

or the Cenfederacy in 1866 post-war. $100 for a loaf of bread type stuff because our currency is so worthless.

[havocmom]

3. fudge!

:hug:

I fear you are probably correct, but I try not to let myself dwell on it much, lest I wander off into the wilderness to live on snake meat until I die.

[fudge stripe cookays]

4. Hey darlin!

How are ya? Yes, I've been trying to concentrate on stuff I can control. Lord only knows where all this will end.

This evening I'm concentrating on fun things by throwing a Southwestern-flavored dinner party.

:D

[havocmom]

5. Southwestern-flavor dinner party, you say?

I make a great chili rellano...

I have found an outlet where my rabble-rousin' ways are helpful, speaking of concentrating on stuff I can have an impact on, if not quite control ;)

Good to see you on your rare appearances on campus. Always makes me smile to see you are still up and kickin.

:hug:

[fudge stripe cookays]

6. Just settlin in...

here in Beer-bratistan. Have been busy at a new job, and finding lots of dead people. :D