Consumers' mood grim as early-80s in May »
Posted By STONERS 1 year, 6 months ago in Business & FinanceConsumer confidence tumbled to its lowest in 28 years this month, a survey showed on Friday, as short-term inflation expectations reached the highest levels since the stagflationary early 1980s.
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STONERS1 year, 6 months ago
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"Consumer confidence continued to slip in early May due to surging food and fuel prices," the Surveys of Consumers statement said. "Record numbers of consumers viewed the economy in recession and saw little hope of recovery anytime soon."
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Harbeas1 year, 6 months ago
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Why does this not surprise anyone? With gas at $4 a gallon it affects almost anything we do. Everything is no costing more because of it. And what is our government doing? They are suspending adding any more oil to our strategic reserve! This amounts to absolutely nothing. It's like trying to plug a hole in the dyke with a wad of bubble gum. I don't understand how the government does nothing as the oil companies post the most obscene profits ever recorded.
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