Consumer Confidence Drop Is No Surprise

The only unexpected facet about the current loss of confidence in the economy is that anyone could consider it unexpected (“Consumer Confidence Shows Surprise Drop,” Aug. 29). Please remember that the daily news is replete with reports of “temporary staff reductions” and “downsizing” of the work force. In real English this translates into massive layoffs and permanent loss of jobs. Having survived the process, I know it also means that whatever new job is obtained will pay less, offer fewer benefits, have no long-term security and little if any retirement benefit, i.e., a significant reduction in lifestyle and long-term financial security.

The public is learning in no uncertain terms that neither big business nor government is a friend. The administration’s economic policies are accelerating the process of selling the American dream to a privileged few while turning the U.S. into a Third World economy for the balance. It hasn’t quite happened yet, but it’s certainly headed in that direction.

The real surprise would be the public having confidence in the economy.

Eric Heimann

Westminster