Thread: As Consumers Pull Back, a Vicious Cycle Sets In

As Consumers Pull Back, a Vicious Cycle Sets In

Tuesday, Jan. 15, 2008 2:48 p.m. EST

Consumers are in trouble, and many experts believe weakness in personal spending will send the economy into recession. Indeed some believe it already has.

From low- and middle-end retailers to hoity-toity luxury stores, sales are slumping.

Target reported that same-store sales dropped 5 percent in December from a year earlier, while Nordstrom sales fell 4 percent. And that was nothing compared to the carnage at Kohl’s – an 11 percent plunge – and at Macy’s, where sales fell 7.9 percent.

"This is the real deal: consumers are slowing down across the spectrum,â€

Do you think that when they reported these figures that they took into account the number of illegals that came into the country last year and the influx of anchor babies? I don't think they would. If they added that in to spending consumers then the percentage rates they are using would be way higher. But why tell us the truth or why be smart enough to include those figures.