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Thursday, July 05, 2007

MarketWatch: Consumers are struggling

by Calculated Risk on 7/05/2007 05:45:00 PM

From Rex Nutting at MarketWatch: Consumers are struggling

Just when it appeared the U.S. economy would pick up steam after a year-long soft patch, the U.S. consumer is running out of gas.

The signs of stress are all around.

Prices are rising, but incomes and wealth aren't. With most households already overburdened with debt, consumers are being squeezed. There's only one thing to do, even though it goes against every fiber of their being: Cut back on expenses.