It is beginning to appear as if the long economic slide of the United States has left the nation sinking into the deep quicksand of a corrupt and struggling third world nation where the vast majority of the wealth and power is being increasingly cornered by fewer and fewer highly privileged people. The growing dissatisfaction with government policies has lead to a collapse in consumer sentiment. Leah Schnurr has reported for Reuters on March 15, 2013, Consumer sentiment hit by policy concerns in March.
In early March consumer sentiment fell to its lowest in over a year as more Americans were dissatisfied with government economic policies and fewer Americans expected to see improvements in growth or the labor market. There was a drop to 71.8 from 77.6 in February, in the Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment.This was the lowest level since December 2011. In this survey a record 34 percent of respondents made unfavorable references to government economic policies, which beat January's prior record of 31 percent.
Money News has covered a Thomson/Reuters Report on this story, Consumer Sentiment Hit by Fiscal Policy Concerns in March. In early March consumer sentiment crashed to its lowest in over a year as more Americans have been dissatisfied with government economic policies and fewer expected to see improvements in growth or the labor market. The fall in the Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment to 71.8 has confounded expectations for a slightly higher reading of 78. Survey director Richard Curtin said in a statement, "The frustrations expressed by consumers essentially involve how little consideration has been given to how the government's inability to reach a compromise affects people's economic situation."