Consumer Spending Drop A Brick

To the surprise of absolutely nobody, consumer spending dropped this month. This is not rocket science, since the grocery stores have not dropped prices while our wages and wealth have fallen, if we have work at all. I still see milk for 4 dollars a gallon even with the price of gas halved here. It's a very curious thing that when gas prices rise they are directly fueling price increases, but when they plummet they are not a factor to cause price drops. If only consumers here would stop buying overpriced goods, then market forces might work. Unfortunately that is only a pipe dream, as one in five American house buyers has a house worth less than the remaining mortgage.