Consumers are leaving in droves!

What are we going to do? First we give everyone a tax rebate, then all the market sages say "Save it, don't spend it!", then consumer spending drops. Go figure!

The vast majority of the US populace knows the equivalent of nothing about economics. Any advice that is given to them is going to be followed, at least half the time. Everyone is talking about a recession, high gas prices, mortgage failures, so everyone is buckling down. When it costs more than a year's tuition at Yale to buy gas to go to Walmart, is it any surprise that people aren't spending money?

What I would look for with all this economic goodness is an increase in online spending (correlated with a significant rise in shipping costs) as consumers look for alternative ways to shop.

The larger issue is that we have to come to grips with the fact that this isn't going away. Our dollar is cheap, goods are expensive and life is harder right now. Life on a budget isn't fun and America is finally learning this fact.

Are you receding?

While the global economic focus is on the US and our impending downturn, I wanted to see how my scarce readers were doing individually? How is this "recession" impacting you? Are you spending less? Monitoring your accounts more regularly?

I personally don't pay too much attention to it right now as I can't control it. I have a good job, a solid economic footing and finally got rid of my gas-guzzling SUV. Overall, things are fairly status quo. I do know that there are a lot of folks not in that same situation and was curious how it was impacting them.

There are the standard ways to belt-tighten in this go-round of economic madness but this time the overriding factors do cause more concern than normal. For instance, gas is extremely pricey, the technology tax we each face is dear each month (cell phones, cable, etc.), the dollar should be called a peso and even rice is at an all time high. Where do you begin to cut in order to make up some ground?

Just curious.