"Wary Consumers Snuff 2Q Economic Growth" or a big DUH from MSM

[Jim Warren]

Consumer exhaustion, yep, that's what it is all right. I don't know about you but I'm just consumerly tired all the time these days and I don't know why......but but I do feel a little quilty about having no money to spend spend spend.

WASHINGTON Jul 28, 2006 (AP)— The economy throttled back in the second quarter as consumers and companies turned cautious amid surging energy prices. Wall Street rallied on the hope that a break in two years of interest-rate pain may be in sight.

"This expansion is getting a little frayed around the edges because of consumer exhaustion," said economist Ken Mayland of ClearView Economics. "Consumers are losing that extra mojo to spend" now that the slowing housing market is making people feel less wealthy, he said.

Consumers, a major force shaping overall economic activity, had a smaller appetite for spending in the second quarter. They boosted spending at just a 2.5 percent pace, down from a 4.8 percent growth rate in the first quarter. Much of that weakness reflected cutbacks on big-ticket goods such as cars.

http://abcnews.go.com/Business/wireStory?id=2249034

[bronxiteforever]

1. we got hit with a big car bill

-just gave up eating out for the foreseeable future-ain't no play in the joints of our budget-we are solidly middle class and solidly tapped out

[1monster]

2. Well, I'm consumer exhausted every time I pay the bills for the

consumerism of my family... you know things like the power bill nearly doubling (even though I try to keep the thermastat set at 85 degrees -- my husband is always sneaking it down to 78), the grocery bill that has sky rocketed, and especially after paying my mostly minimum coverage insurance for every thing from life and health insurance to car and home insurance which takes up a good third of our income...

I'm consumer exhausted and so is my bank account.

[napi21]

3. "Lack of mojo and FEELING less wealthy"??????

For God sake people! It has NOTHING to do with MOJO or FEELINGS, it's damn REALITY!!!!!! Necesssities cost more, gas costs more, and the wages aren't changing!

These must be the same damn people who judge a $9 TRILLIONNATIONAL DEBT to be NO PROBLEM!!!!!

Hell, I'm no economist or financial analyist, but I sure could do better at explaining the facts than those people do!!!! GGGRRRRRRRRR

[Jim Warren]

I KNOW!

Imagine, if we just get our collective mojos working! Maybe we all should just request an increase in our bank cards crsdit limit, ya think?

They don't explain the facts, they distort them with an agenda.

[napi21]

6. The only person I've heard come close to telling it like it is, is

Lou Dobbs! I've heard him argue with the finance guys the admin sends for him to interview! Every night I hear him say "WHAT are they TTHINKING!!!!!!"

Lou used to have a financial show, and he knows what hes talking about.

[bluerum]

4. yeah - I am just tired of all the shopping sprees - it just gets old

after a while.

Think I will what is left of my tax cut and get some food and health insurance - then maybe invest in oil, ethanol, Halliburton, and weapons manufacturers.

[lectrobyte]

5. "cautious among surging energy prices" -- such a nice way of

describing things. It's not just energy, just got a notice property taxes are going up again.