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There is consensus that consumer confidence drives the U.S. economy. If the general public is optimistic, retail sales increase. That is what we have been told.
The consumer confidence index is regularly measured, published and cited as evidence as to where the economy is going.
The question now needs to be asked: Why is George W. Bush talking economic downturn based on a month or so of slow retail sales? Hasn’t someone from his Cabinet told him such talk can bring about a recession? Shouldn’t Alan Greenspan call and tell him to make exuberant and happy talk?
