consumers

Nick Benton's Corner: The New Lasting Fad of Frugality

From the Falls Church News Press, Nicholas Benton owner/editor

by Nick Benton

All those trying to jump-start the economy by infusing a renewed sense of optimism in the population point to encouraging signs that some recent polls reflect.

Americans are starting to feel a little better about the future, they report. 

But is it the kind of future that will, anytime soon, resemble anything like the supposed gravy days that preceded the onset of the current steep economic downturn? The indications are that most Americans don't think so.

Consumers Can Fix the Economy

Originally published 2009-01-07 09:33:07 -1000 - promoted by roxy

When I was young talk about millions of dollars impressed me. When I was older talk about billions of dollars dismayed me. Now, regular talk about trillions of dollars, especially government spending, nauseates me.

People never seem to learn that they control the fate of the American economy. It is far too easy to blame in bad times or thank in good times Wall Street, the government, or super-rich and powerful financial entities. In actual fact it is always the spending of money by the general population on consumer products and services, housing, cars, or investments that drives the economy.

What's Coming Next, or Is Collapse Over, Nope!

I'm not an economist and the only real numbers I crunch are my personal expenses and when bidding construction jobs putting together those costs and percentages which in these latter years of my life, preferring more to do the work, I have done very little of, except while doing the work to bring a better quality for hopefully a bit cheaper cost in material and professional skill.

Watching what is now taking place in banking and the dream new capitalist economy that's been sold for a number of years isn't really a big surprise to this common man, many were forecasting exactly what would happen if we followed the sales pitch.

Following is a report from CBS that hits on the next shoe to drop or dropping already as we've seen with the collapse of a number of finance institutions but not yet talked about but part of what we the tax payers are already bailing out.

Consumers Abused by Default Choices

At some point the business sector realized the best way to take advantage of consumers was to use default options that make them spend money. A default option works because it creates an automatic decision by the consumer doing nothing. And doing nothing is the path of least resistance for time-poor consumers struggling to balance the many difficult responsibilities associated with work, family, maintaining financial security, and coping with stresses on their health.