Spend, spend, spent....

Dear Congressman,

According to Bill Gross, the main guru over at Bond wizard company PIMCO, the American consumer has changed from an attitude of "shop til you drop" to "save to the grave". Now, as yourself, growing up in the last few decades with rampant consumerism and the need to "keep up with the Jones", I somehow feel that this is overstating it just a little bit. Granted, with 10% unemployment and spending scale backs of mammoth proportions, it does look gloomy if you own a whole bunch of specialty retailer stocks in your portfolio right now. But I would have faith in the consumers ability to belligerently spend money like it was radioactive and dangerous to hold on to.

Personally, I think we have gone from "shop til you drop" to "shop until you have to stop", mainly because of reduced credit and overdrawn bank accounts, but until that point is reached the average American consumer can still be counted on to come through to purchase those Asian manufactured goods at a pace steady enough to keep China out of trouble.

And "save to the grave", ...nah... it's more like "save until we come out of the cave". Talking heads in this country keep going on about how the til has tilted and people are now finally starting to save part of what they earn. But they don't give that all American need to have a bunch of stuff enough credit. Also, keep in mine that with the Pension Protection Act of 2006 companies have slowly begun withholding 3% of all new employee's pay automatically to a retirement account. I somehow thing this is contributing to America's sudden increasing love of saving.

So no sweat America, just run to the mall and get that new cell phone, pair of jeans, and latest "as seen on TV gadget". After all, the world does not have enough shamwows now, does it?