Dec 30

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Consumer Confidence Hits Record Low

More gloomy news emerged on the U.S. economic front Tuesday as consumer confidence fell to a record low in December and new data showed home prices dropped by the sharpest annual rate on record in October.

Question/Comment: A basic truth in economics is that wages drive demand. Yet for the last 30 years wages have been stagnant or decreasing. Why do I hear only talk of easing credit, not increasing wages? Easy credit is what caused…