Saturday, August 6, 2011
While the downgrade of the US credit rating is a disconcerting headline, other fiscally leading countries have seen their rating slip in recent years as well. Yet we are the benchmark and the leading economy by which the world takes their cue. Fear is always a contributing factor to pullbacks with the stock market etc., but I really believe there is more than fear driving us near a recession. (if not in) Europe's own problems in tandem with ours, the Yen and the rest of the worlds financial concerns leave me extremely guarded. My advice is only spend "smartly". It's funny we always hear the line "kicking in consumer spending is great for the economy"....but no one ever wants to be first in that "line."