Behavioral Economics

The pundits are suggesting that the economic recovery will be far slower than they had originally anticipated. Despite the slug of government money and programs, the consumer is the chief factor in determining how deep and how long this recession will be. Despite moderately good news on the stock market and employment sector, consumers remain cautious and are choosing to pare down debt and save rather than extend credit and spend. This is a gloomy picture considering that consumer consumption accounts for roughly seventy percent (70%) of the GDP.

Tisha Black-Chernine, Esq.