Consumers Take a Break


	Consumers Take a Break

JICWyllie

5-14-2007 8:57 AM

637 views

tags:

consumers, i-expenditure, i-spending, economy, i-risks, i-recession

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5-15-2007 3:12 PM

ericskiff

This clip was featured on today's Clipiversity video podcast, and sparked a great discussion on the economy.

Thanks for yet another great clip!

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/2d5df26e-45cf-43e2-a6e6-e724be8b9ea3/6672B4CE-2A18-44D0-98D9-DCBE12C32919/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2007/05/14/opinion/14mon3.html?th=&emc=th&pagewanted=print" href="http://www.nytimes.com/2007/05/14/opinion/14mon3.html?th=&emc=th&pagewanted=print" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2007/05/14/opinion/14mon3.html?th=&emc=th&pagewanted=print"><P>Consumer spending has been the powerful and dependable engine of the current economic expansion. Americans have continued to shop through boom-time borrowing, high oil prices, on-and-off job growth, uncontrolled medical costs, rampant trade deficits, hurricanes and war. </p> <P>Until last month, that is. </p> <P>Major American retailers reported April sales declines that were among the worst on record. The pain was widespread, including discounters, department stores and specialty shops. Wal-Mart, the nation’s largest retailer, had the steepest decline since it began reporting monthly figures 28 years ago. Government retail figures for April confirmed the slump, showing the first decline in seven months.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2007/05/14/opinion/14mon3.html?th=&emc=th&pagewanted=print">Clearly, consumers are squeezed as gas prices rise and wage growth slows, and as declining home prices make it harder to borrow against the house. It seems that conditions will worsen before they improve.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/6672B4CE-2A18-44D0-98D9-DCBE12C32919/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>