By:  LINDSEY O’NEILL, ESQ.

In it’s July Monthly Market Monitor, the Office of Thrift Supervision, Department of the Treasury, describes the state of the economy as “A perfect storm” with “…job losses, accelerating inflation and rising interest rates threatening growth in the United States.”  The publication notes the biggest weaknesses are present in the housing and financial institutions sectors.  If consumers are struggling with rising gas and food prices, job losses, inability to pay their mortgages, falling equity in their homes and other investments, and other financial difficulties, is it possible to be keeping up our consumer confidence? 

Surprisingly, consumer attitudes appear to have improved slightly according to the latest Gallup Poll.  The researchers at Gallup think that the gas prices may be more closely tied to the public attitude than any single other economic factor these days.  It seems even a slight leveling of the gas prices, as has been shown in recent weeks, has done a lot to keeping us positively minded.  Very interesting…. As a society, despite the trouble in the economy, we are hopeful and believe things will get better in the future. 

Well, that is uplifting in and of itself…