Americans’ Economic Confidence Plummets According to Gallup Poll: This is very scary.

[Better Believe It]

Americans’ Economic Confidence Plummets
By: Jon Walker
August 10, 2011

In the past month the American people’s confidence in the state of the economy has plummeted according to recent Gallup polling.





This is very scary because our economy is so dependent on consumer spending. The rapid increase in economic pessimism combined with millions of people losing wealth due to the recent huge drop in stock values could cause people to pull back on spending, reducing demand for goods and services. This is what the beginning of self-reinforcing downward spiral would look like.

http://fdlaction.firedoglake.com/2011/08/10/consumer-economic-confidence-plummets/