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No. of Recommendations: 5
The loss of consumer confidence is not a result of anyone "talking down" the economy. It is a result of people percieving themselves less wealthy than they thought they were a year ago when stocks were flying high. Now they are concerned about their ability to afford the huge debt they have run up along with concerns over job security. This has all come about as a result of the totally unecessary Fed rate hikes in the face of no inflation last year by a chairman who doesn"t understand the technology of today and its dramatic effects on productivity.
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