Tags: Consumers | Confident | Government

Consumers Confident, Just Not in Their Government

Wednesday, 19 Oct 2011 08:03 AM

Consumers are more confident in themselves financially these days, but not in their government, a recent survey finds.

Some 83 percent of consumers struggling with credit-card debt say they are more able to pay those debts off, according to a survey conducted CESI Debt Solutions, a debt-counseling organization, CNBC reports.

"What’s more, 93 percent said they were convinced that they would pay off their own personal debt before the federal government ever paid off the national debt," CNBC reports.

Such confidence is key to recovery.
__________________________________________________________

71% Disapprove of Obama on the Economy — Gallup Poll
And 76% of Americans think it will get worse! Find out how you can immediately improve your own financial situation by watching the Aftershock Survival Summit now.
__________________________________________________________

Consumer spending fuels 70 percent of U.S. economic output and without consumer confidence, the economy will teeter on the edge of recession and unemployment rates will remain high, experts say.
Business, however, may be picking up.

unclesamtax200gtty.jpg
(Getty Images photo)
U.S. wholesale prices rose at their fastest pace in five months in September, according to Reuters, although higher gasoline costs may have played a role in that spike.

The Labor Department's index for prices received by farms, factories and refineries rose 0.8 percent in September after coming in flat in August.

Economists were expecting prices to increase 0.2 percent, pointing out that there was enough of an increase in prices not related to fuel to prompt sentiment that the Federal Reserve may forgo further accommodative monetary policies, such as purchasing assets from banks with fresh money, known as quantitative easing.

Wholesale prices can often push up consumer prices.

"There is no sign of the deflationary pressures that the Fed was worried about a year ago, so the hurdle for further quantitative easing is higher now than it was then," says Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts, Reuters adds.

© 2017 Newsmax Finance. All rights reserved.

 
1Like our page
2Share
StreetTalk
Consumers are more confident in themselves financially these days, but not in their government, a recent survey finds. Some 83 percent of consumers struggling with credit-card debt say they are more able to pay those debts off, according to a survey conducted CESI Debt...
Consumers,Confident,Government
1852
2011-03-19
Wednesday, 19 Oct 2011 08:03 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved