The Associated Press reports: "Consumers Retrench as Economy Weakens."
The most disturbing fact from the article is one that we, living 1.5 hours from our favorite trout water and driving a big honking truck, know all too well.
"Frank Krystyniak, 65, director of public relations at Sam
Houston State University in Huntsville, Texas, said the uncertain financial
environment and the effect of the upcoming presidential election has him worried
that his savings could take a big hit.
So he recently moved his nest egg out of stock and
bond funds and into a fixed-rate account that should yield about 4.75 percent a
year, he said.
He's also wary of rising gasoline prices, which could
curtail his driving to Colorado to visit family and indulge in his hobby of
My fellow fly fishers. Go ye forth, do thee patriotic thing, and strike oil or perhaps buy a house or two. The curtailing of fishing is totally and unequivocally unacceptable!