Confidence,
that has reached negative levels, and without some sense of confidence, the consumer, whether American, European, Asian, South American or otherwise will continue to only purchase life sustaining necessities
Confidence has been attacked and challenged by the collapse of the financial structures that it was propped up upon.
Housing wealth, although artificially inflated was one of the legs that propped up American confidence....
gone!, and more foreclosures to boot...
Credit and Derivatives were used and abused and allowed to jeopardize whatever other stability seemed to exist before it.
gone!, and more collapses to boot...
Interest rates, tax shelters, tax cuts, tax incentives, export based job and export based economies....
pretty much gone!, and more contraction to boot....
depression,
uh, yeah, many people are replacing confidence with depression,
many municipalities too,
many companies too,
many industries too,
many trades and trade crafts too...
what's to turn it around?
stay tuned....
((all we now have remains hope))