A majority of Americans (82 per cent) feel their local economy will stay the same or weaken within the next six months, according to inaugural survey findings from the RBC Consumer Outlook Index, the new monthly survey of U.S. consumers released today by RBC. However, there are signs of growing confidence, with just over half of Americans (51 per cent) now feeling optimistic about their personal financial situations.
The RBC Consumer Outlook Index provides the most comprehensive, forward-looking analysis of consumers’ national and local perceptions of the economy and their personal financial situation based on a representative nationwide sample of 1,007 U.S. adults polled from April 1-5, 2010, by research company Ipsos. Going forward, RBC will publish the Index on a monthly basis. Future reports will include comparisons and analysis regarding significant shifts in consumer attitudes and behaviours, as well as regional breakouts.
“We strongly believe this first look at what consumers are thinking now will be of tremendous value to those looking for insightful and predictive market analysis,” said Marc Harris, Co-Head of Global Research at RBC Capital Markets. “We think that investors will tune in for the data, talk about it and trade on it.”
US consumers do not understand that nothing has fundamentally changed in the system (other than a doubling of our national debt) that brought us the collapse in 2008. Nothing.
[blockquote]Wall Street gets vilified for blowing up the financial system. As it should. But a big part of the mortgage mess had nothing to do with Wall Street. It started with commercial banks making shady loans and ended with Fannie and Freddie’s political obligation to buy up these loans in bulk. What’s scary is there isn’t a plan on what to do with these two rascals. Functionally, nothing has changed since they collapsed.
http://www.fool.com/investing/general/2010/03/23/alan-greenspan-on-the-financial-collapse.aspx [/blockquote]
Nothing… http://www.fool.com/investing/general/2009/09/04/fannie-and-freddie-one-year-later.aspx
The US consumer also does not understand that there are $108 T in unfunded liabilities owed by the Treasury and most don’t know that we have a current actual debt of about $13 T. They could tax every penny that everyone makes in the nation and not pay that debt and the deficit (the growth of the debt this year) is another $1.4 T.
Denial.