Things about money

By Creature

In the wake of September the eleventh our brave bullhorn president asked the American people to make sacrifices. "Go shopping, young man," he said to the people. The people listened. The hard sacrifice was made, but now as the bullhorn feels the economic blow-back from his Middle East misadventures, what's a consumer patriot to do? This from the Washington Post:

The U.S. economy slowed sharply in the three months ended in June, expanding at less than half its pace earlier this year, as consumers and businesses hunkered down in response to climbing inflation and interest rates.

Consumers spent more on gasoline while pulling back on purchases of houses, automobiles and many other items. Businesses slashed their spending on housing construction and on equipment and software, while hiring more cautiously at a time of uncertainty over how much the economy will cool.

I'm not so sure the economy can stay-the-course much longer. But at least the rich folks little folks got a estate tax minimum wage repeal increase from the House last night. That should help the rich get richer economy along nicely.

(Cross-posted at State of the Day.)