There’s a sense of growing discontent among the U.S. public, with many wondering if current economic trends (especially regarding jobs) have become current economic culture.
In other words, are things going to stay this bad for a long time?
Even President Obama seems worried. Yesterday he told Fox News (yes, he’s talking to Fox again) that current U.S. debt loads are unsustainable. If our debt load grows too large, we run the risk of dipping back into a recession, the President said.
“It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession," he said.
OK, fine. But talking about debt without mentioning the fact that the federal government has dug a $1.2 trillion financial hole this year is like talking about great gorilla movies without mentioning King Kong.
So, no wonder consumers are losing confidence. The double-talk coming out of Washington just isn’t resonating with the public – and with good reason. Americans are antsy about the economy and Washington seems to be adding to, instead of fixing, the problem.
That’s the environment we’re dealing with right now, and it has bled over to the bank interest rate environment. By and large, rates are low, with few signs of creeping back up this year.
But it’s our job to find some pearls in the murky depths. And this edition of “Deals of the Week” promises not to disappoint.