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Tuesday, November 18

Consumers close their wallets

From the CS
The consumer is in no mood to spend.

With only a few weeks to go before the holiday season officially kicks off, retailers are saying this is the worst consumer environment since World War II. Big box retailers are fighting for survival, department stores are preparing massive promotions, and some stores are asking manufacturers to take back their products even before Thanksgiving.

An unenthusiastic consumer has wide ramifications for the US economy because 70 percent of the nation's production of goods and services is oriented toward consumption...
And whose fault is this?

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