Even Microsoft?

By Bill Glynn

I'll say it again - If consumers can't consume, our Consumption Economy will fail. That has been America's main economic engine for many years. Consumers and businesses alike are corpses rotting on the battlefield of life and no one is dragging the wounded off the beach. When you see major companies like Microsoft take big hits and start layoffs you know the worse case scenario is upon all of us. For richer or poorer, sickness and health, the American consumers' marriage to business is ending in divorce and a nasty one at that. How many consumers are knocked out of the economy? Tens of millions. Poor credit, bankruptcy, layoffs - more and more just eliminated them from the buying marketplace now and for years to come. Yes, credit addiction by our government and consumers alike has gotten us here. But wherever you go, there you are. Without some consumer changes, our economy and all sectors will perpetually falter. Just think of how many consumers are locked behind the gates in steerage on the Titanic because they are the little guys or poor people. Do we just let them die while executives across the land get the lifeboats? [more...]