"Americans are growing increasingly doubtful about direction of the US economy, according to the latest survey from business-advisory firm AlixPartners.
In fact, an increasing number, some 61 percent, say they don't expect to return to their respective pre-recession lifestyles until the spring of 2014, if ever.
What's worse, a full 10 percent said they expect they will never return to pre-recession spending.
That's a more pessimistic view than last year, when those surveyed expected that they could be back to pre-recession spending levels by the middle of 2013.
"Americans continue to push their expectations for return to a pre-recession 'normal' further and further into the future—close enough for comfort, but far enough away to seem realistic," said Fred Crawford, CEO of AlixPartners. "But as that happens, more and more it seems normal is actually where we are right now."
Comment:
There is an overwhelming feeling of dread that seems to pervade everything these days. The news is full of Natural disasters, and now E-coli in food, and Fukishima, and yada, yada, yada.
The worst story is housing. More and more people were sucked into the Bush Era - HELOC madness that gripped the world, and now, millions are losing their homes.
Here in Canada, it's still bizarre. Some pockets are holding up = but the econony sucks. More and more closed up shops. Small business is weighed under by red tape and taxes, and the prices of homes in Vancouver, and other centers would make Greenspan puke.
Here's the deal.
No one is sure what is coming next.
One thing is FOR SURE. Volatility, insecurity and Black Swans.
Be ready - be liquid and if you have been trying to get rich on your house, bunky - sell, before you find out what the therm debt slavery means. MORT GAGE = French for DEATH CONTRACT.
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