Whenever anyone questions the strength of consumer spending, people like to claim that all they've seen recently is packed malls, restaurants, etc... I've observed the same thing...I'm trying to finish up my Christmas shopping this week, because the mall has been ridiculous. I'll probably spend a bit more this Christmas than last year, but overall, I have been cutting back on spending. It's not out of necessity, but I plan to cut spending drastically after the holidays...simply because I'd like to build a larger cash reserve to pay cash for cars (and anything else) from now on. [more]
It's only down 6% so far...94% to go!
...unless we rally strong into the close, I'm getting out here. [more]