Foreclosure and Real Estate Blogs

“The Commerce Department said yesterday that retail sales fell 0.6% in February; sales excluding the volatile auto and auto-parts categories fell 0.2%. The declines reflect a sharp slowdown in consumer spending, which accounts for more than 70% of U.S. economic activity, as Americans grapple with high gasoline and food costs and declines in home values and other asset prices.”
From the Wall St. Journal

Interesting points from the article include some pretty pessimistic viewpoints from the surveyed economists with a majority believing federal funds will be used to help alleviate an unsteady economy.  Some elements of humor include one economist stating that these economic issues came to be under Ben Bernanke’s watch.  Bernanke might have to take the heat, but that’s just because Greenspan retired knowing what was coming.

This entry was posted on Thursday, March 13th, 2008 at 7:00 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.