From John Mauldin’s “Outside The Box” Newsletter
Posted By thestatedtruth.com on March 15, 2010
For the last two years, Gallup has been asking 1,000 Americans every day how much they’ve been spending at stores, restaurants, gas stations, and online. The average for upper-income households–those with incomes above $90,000–in February plunged to a new low of $98, down 13% from January. The numbers aren’t seasonally adjusted, so the monthly changes have to be taken with a grain of salt, but the yearly change is a sharp �19%.
By contrast, spending by middle- and lower-income households has been more or less flat for a year. Both are way off their May 2008 peaks–down by almost half for both groups.
full letter at….http://www.investorsinsight.com/
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