I want to know what constitutes a financial crisis.
From what I can tell no one is canceling their cable or cell phones.
Saw this headline last week, “Consumer spending drops 1%“, followed by this lead sentence, “Consumer spending fell dramatically in October….”
I’m not an economist, but if all we’ve cut our spending back is 1%…. Could someone please explain this to me?
Oh, by the way, I’m still buying crap I don’t need, or even have room for, while drinking my $12/lb coffee.