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OP-ED: December Consumer Confidence Falls – Call for New Community Based Economies

December 28, 2010

Consumer confidence has slipped again in December. Really? No surprise here. When 26 million people are unemployed or underemployed as reported yesterday, people feel insecure. What is more distressing is the skewed perception that it is people’s attitudes causing the confidence problem, when in fact, it is people’s financial state of affairs precipitating their insecurity. Once more Americans get back to 40 hour a week jobs and have steady income, then “confidence” will return.

My own take on things is people need to abandon the stock market and the mega-corporations who are producing more with less. If they are doing so great, then they do not need us. Right? The rest of us should create a new job market, new small businesses, new community banks or credit unions, new community based health care; basically a new system from within at a local level and say to hell with the ivory tower Wall Street gluttons who have ravaged our nation and strapped us with $15 trillion in deficit debt due to bailouts, TARP, and tax cuts for the upper 2%. I think it is time we strike out on our own and create a new, independent American economy free from too-big-to fail banks and government policies that favor the mega-corporations and Wall Street who all feed off each other. It is a game that no longer serves the best interests of the everyday American. The key is creating energy systems that can make people more independent from the monopolies of present energy providers. From there, related jobs would be spunoff to support that system and that money would filter into the local economies rather than upward to the mega-corporations, oil companies, large banks, etc. This is all doable, but we need leadership at a local level, State participation, and the real confidence from everyday Americans to seize our own destiny. The system is broke and only we can fix it.

Reported consumer attitudes slipped in December. The median of forecasts from analysts polled by Reuters was for a reading of 56. The expectations index declined to 71.9 in December from 73.6 in November. The present situation index fell to 23.5 from 25.4.

Consumers’ labor market assessment worsened. The “jobs hard to get” index rose to 46.8 percent in December from 46.3 percent last month, while the “jobs plentiful” index dropped to 3.9 percent from 4.3 percent.

Entire NY Times article, click here

Go directly to Consumer Confidence Index, click here

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