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American consumers find themselves in a hole... So they dig some more

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May 07, 2007 – Comments (1)

I'm not kidding.

Idiotic remark of the day: "Consumer spending is indispensable to a healthy economy...Consumers, however, managed to continue spending, an important factor in keeping the economy moving."

I guess everything's fine then, even though, "Use of revolving credit, primarily credit cards, rose at a sizzling pace of 9.2 percent in March..."

What is this, Fox news? Jeannine Aversa needs 50 lashes with a mouse cord. Horribly irresponsible spin, masquerading as old-fashioned AP "objectiviry."

And we wonder why people are losing their homes in record numbers.

1 Comments – Post Your Own

#1) On May 07, 2007 at 7:30 PM, ElViking (99.20) wrote:

I was pretty amazed by the consumer spending numbers today too. This boat may not be sinking just yet, but there are some very worrisome holes that few people seem to be acknowledging.

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