US Consumers Driving Resurgent Economy

US Consumers Driving Resurgent Economy: Despite six years of the maniacal Right Wing’s “Make Obama Fail” manifesto, the US ended 2014 with an S&P 500 gain of 11.4%––the third straight year of gains––leading every nation in the world recovery from the Great Republican Recession. The US national economy grew by 5% in the last 3rd quarter, far exceeding 3.9% expectations. Lost in the economic shuffle was the huge surge in consumer spending due to consumer savings of $120 billion in lower gas prices. Resurgence is a clear indicator that consumer spending––not hunkering down and riding out hard times, and certainly not increased drilling for oil––is the major factor both in growing and in fostering a dynamic economy. The Stock Market, which once again is reaching all time highs, only relates to investors. Most investors are already wealthy and simply squirrel-away profits in overseas tax dodges. Most Americans do not have investments, do not own stocks, and see no return from the Stock Market. Most Americans, however, do have a huge stake in consumer spending. Everyone with a job spends money. Everyone with a living wage has money to spend. This past holiday brought in record spending for the fourth year in a row. Consumer spending drives the US economy. Corporations don’t create jobs, consumers do. No investor starts a business without existing consumer demand. No corporation or investor can operate a profitable business without employee/consumers who spend their wages right away on the products they make and the services they provide. Obama was right and the Right is wrong again. Regardless of the treasonous attempts of self-serving conservatives to kill the American economy just to regain public office, America’s dynamic consumers have taken the wheel of economics and are driving the economy forward. Workers spend money. Corporations hide profits. Richard Dorsey, Hacienda Heights, CA.

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