Submitted by Jen Jones on Wed, 07/20/2011 - 1:50pm
In these rough and tumble economic times, cheery financial news can be hard to come by, even amid the economic recovery itself. This remains true at the midway point of 2011—a full two years following the official end of the economic recession—as a major indicator of the strength of the America’s economic machine is showing that we’re still in the throes of an economic downturn, at least for consumers.
According to Reuters, Global consumer confidence fell in the second quarter “to its lowest level in a year and a half as an uncertain economic outlook, a deepening euro zone debt crisis and rising inflation made people more cautious, a survey showed on Sunday. Consumer sentiment in the United States was weaker than in the second half of 2009 at the height of the global recession, according to The Nielsen Company's quarterly survey of global consumers.
This not-so-good news means that consumers all over the world will be further pinching their currency and tightening their belts over the next months, including purchasing fewer luxuries like clothes and electronics, taking fewer vacations, and reconsidering major purchases like homes and cars, following more than a year of slight cautiousness on the buying front.
The reason is clear: “rapidly rising gas prices, inflationary pressures at check-out, continued woes in the housing market with home foreclosures and declining property values, unsettling weather patterns creating flooding and tornado damage, and a stagnant job market,” made consumer confidence hard to come by globally.
If you’re a retailer, this fading desire for folks to spend could mean another season of lost sales, lower profits, and a greater overstock of inventory with nowhere to go but on shelves. More directly, floundering business can also mean layoffs, contributing to a vicious cycle of higher unemployment, and, with layoffs, even less income to make purchases in the global marketplace.
So, this endless cycle of no confidence, no business, no jobs, (and no confidence to boot), doesn’t seem to be changing anytime soon. Concerns about business conditions and the labor market are casting a dark cloud over consumers that is not likely to lift until the job market itself takes a turn for the better.
And, since consumer spending is one of the most important parts of our nation’s economy—accounting for nearly 70 & of the country’s total GDP—a drop in consumer confidence is always a bad sign for America’s economic health. Plus, while experts don’t agree whether this slow growth will lead to a second Recession (otherwise known as “double-dip”), the longer the economy languishes the longer American families will likely do the same.
As the economy continues its “slow-to-no” recovery and consumer confidence fads, confidence in the benefits of bankruptcy continues to rise. If your own economic house is shaken due to credit card debt, repossessions or foreclosure, it may be time to take your financial future into your own hands.
The first step is knowing a qualified bankruptcy attorney who can help you regain your power, conquer creditors and face your financial fears, yielding—all with the right kinds of support, information and insights—at a low cost— for a viable and secure future. The bankruptcy professionals at the Law Offices of John T. Orcutt offer a totally FREE debt consultation and now, more than ever, it’s time to take them up on their offer. Just call toll free to +1-919-646-2654, or during the off hours, you can make your own appointment right online at www.billsbills.com. Simply click on the yellow “FREE Consultation Now” button.
And while you're at it, ask about the their new "$0 Money-Down" bankruptcy program. That's right. "$0 Money-Down". No upfront fees. No upfront costs.
Debts Hurt! Got debt? Need help? Get started below!
Serving All of North Carolina
6616 Six Forks Rd Suite 203 Raleigh, NC 27615 North Carolina
Tel: (919) 847-9750
2711 Breezewood Ave. Fayetteville, NC 28303 North Carolina
Tel: (910) 323-2972
1738 Hillandale Road Suite D Durham, NC 27705 North Carolina
Tel: (919) 286-1695
2215 Nash St. NW Wilson, NC 27896 North Carolina
Tel: (252) 234-9194
600 Green Valley Road Suite 210 Greensboro, NC 27408 North Carolina
Tel: (336) 542-5993
South Raleigh (Garner)
143 Highway 70 Garner, NC 27529 North Carolina
Tel: (919) 747-4400
4320 Southport Supply Road SE STE 300 Southport, NC 28461 North Carolina
Tel: (910) 218-8682
4320 Southport Supply Road SE Suite 300 Southport, NC 28461 North Carolina
Tel: (910) 447-2987