FROM CNN's Jack Cafferty:
When it comes to the 18-month-long recession, we're not out of the woods quite yet. Consumer confidence took an unexpected and steep drop in the month of June.
This is a big deal because consumer spending makes up more than two-thirds of our economy. And it means Americans don't feel so optimistic about their current financial situation or about what's to come.
Some think the rising price of gasoline is part of the reason for this decline, with consumers feeling pinched at the pump once again.
One expert tells Reuters that the confidence data "kind of took the wind out of things a little bit." Investors had been expecting consumer confidence to hold steady this month - following big jumps in April and May. For months, we've been seeing economic data that suggests the recession isn't getting worse; but investors want to see signs that the economy is actually growing.
Meanwhile the unemployment rate - which is already at a 25-year high of 9.4 percent - is expected to increase again for the month of June. And perhaps reach 10-percent later this year. If that's the case, it seems unlikely consumer spending will pick up significantly any time soon.
Here’s my question to you: What caused an unexpected, steep drop in consumer confidence?
Interested to know which ones made it on air?
FROM CNN's Jack Cafferty:
The events surrounding Michael Jackson's death continue to become more bizarre every day - not unlike his life. On Friday - eight days after he died - they will lay out the King of Pop's body for a public viewing at Neverland Ranch.
It was initially reported that on Friday - 8 days after he died - Jackson's body would be on public display at Neverland Ranch. But this afternoon the family announced that's not happening and instead they say they're working on plans for a public memorial.
There are plans for a 30-car motorcade to carry Jackson's remains from Los Angeles to Santa Barbara County tomorrow. And, the family has a private service planned for Sunday. The mayor of Gary, Indiana - where Jackson was born - is trying to get Jackson's body sent there for burial.
Meanwhile here in New York, thousands of fans lined the streets of Harlem yesterday to be let inside the Apollo Theater - 600 at a time - to pay tribute to Jackson. Reverend Al Sharpton eulogized Jackson before showing off his own dance moves - which included him grinding with one fan on stage.
Then there are those weird interviews with Joe Jackson - Michael's father– in which he plugs his new record label after being asked about the death of his son.
All this makes it seem like those with a vested interest in making money off Jackson's passing are doing their best to keep the story going and milk it for every last nickel - just like the bloodsuckers around him did when he was alive.
And it's working: Jackson's music has shot back to the top of the charts since his death.
Here’s my question to you: Are the events surrounding Michael Jackson's death beginning to resemble his life?
Interested to know which ones made it on air?
Recent Comments