American Consumers Turn Sour on Economic Outlook
Just in time for Christmas, consumer sentiment in America is taking a nosedive.
Americans are increasingly worried about the outlook for the economy, largely due to the fiscal cliff which is only about a month away.
This decline in morale has implications for the financial markets. It is difficult to see positive action in the stock market with Americans so worried about their futures.
In contrast, historically, hard assets, particularly gold investments, have appreciated during periods when Americans are worried, providing a degree of protection against bad times.