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Economic Woes, Consumer Confidence At Record Lows

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Oct 28, 2008 10:29 am US/Eastern

Economic Woes, Consumer Confidence At Record Lows

U.S. Consumer Confidence Fell To 38.0 In October, An All-Time Low, Compared To 61.4 In September

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MIAMI (CBS4) ― U.S. consumer confidence fell to an all-time low in October after a slight rise a month earlier, and expectations are even bleaker, a report released Tuesday said.

In other consumer news, the S&P/Case-Shiller home-price indexes, a closely watched gauge of U.S. home prices, showed prices in August continue to decline, with areas along the Sun Belt being hit hardest.
  The uncertain financial conditions have people reviewing how their investments have played out. Pilot Shawn Davie of California has seen his investments dropped significantly. He said, "I hate looking at the 401k going down."

In California, money worries have prompted new businesses such as the "Smash Shack". 

It's a simple frustration fixer-upper:  pay a few bucks and throw stuff against a wall. 

One person, venting such frustration, explained "I feel a little more energized. I don't have those frustrations weighing down on me."

It turns out a little "venting" is good therapy…  as family money problems worsen, tensions can rise to the breaking point.

 

 


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