FROM ino.com: In a separate report, the Commerce Department said that US consumer spending rose 0.1 percent and incomes also rose 0.1 percent. Both gains were below what economists were expecting.
Surprise, surprise... if you pay people peanuts, they have peanuts to spend on your products. It's the same in Oz. Most people have very little discretionary spending power because: they're not being paid enough as the executives are grabbing the dough; prices continue to spiral up, while wages/income stagnates; govt costs of power, water, regos etc goes into orbit continually.
This IMO is the fatal flaw of capitalism: outrageous greed of the fat cats will destroy the system and return us to socialism.
DOW Price at posting:
$3.27 Sentiment: Buy Disclosure: Held
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