As spending by wealthy weakens, so does the economy

Decreased spending by the wealthy is a sign that they are nervous in where the economy is headed.   The impact of this reigning in of spending will impact consumer goods, luxury retail and jobs to name a few.  With the wealthy holding back on spending, they are not making investments that would otherwise create jobs (by hiring) thereby growing the economy.  This is shows a definite lack of confidence in where our economy is heading.  [ read more... ]