Sign #1: The consumer is down and out

More

october market crashThe driver of the U.S. economy is the consumer -- consumer spending accounts for 70% of the nation's GDP -- and the consumer is down and out.

Americans have lost 40% of their wealth in the past two years; more than $4 trillion in credit lines will have vanished by year-end; the real unemployment rate (unemployed, discouraged and part-time workers wanting full-time work) is roughly 20%; and weekly work hours and wages are stagnant. In short, most consumers have no extra income to spend.

Next: Sign #2: W-shaped recession

Symbol Lookup
IndexesChangePrice
DJIA-67.119,991.53
NASDAQ-15.542,135.33
S&P 500-8.181,062.34

Last updated: February 10, 2010: 11:13 AM

Hot Stocks

DailyFinance Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

WalletPop Headlines