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Why Consumer Spending Won't Fully Recover

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Uploaded by on Jan 16, 2009

NEW YORK (YouTube.com/AdAge) -- The current downturn in consumer spending is actually the beginning of a 15-to-20-year period of lower consumer spending in general across the U.S. That's according to Mark Zandi, chief economist for Moody's Economy.com. He was looking into his crystal ball for attendees at the National Retail Federation Convention and Expo in Manhattan. He predicted the retail industry would be forced to adjust to new long-term market realities through cost-cutting and downsizing.

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  • No way boomers entering into retirement are going to spend less? I say invest in auto-doctors.

  • Good video, but nobody really knows for sure what is going to happen. Go back and check out what the experts said in 2007 about how there is no recession coming. Either way, America has to start being wise. Love ya Abbey !

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