With weekly jobless claims jumping to the highest level in more than 26 years, it's no surprise that consumer spending has plummeted. Many retailers are feeling the burn, reporting dismal January sales.
While Americans are hanging on to spare cash, many are still spending; it's what they're spending on that reflects the changing times.
Consumers are now in the driver's seat.
Automakers reported their worst sales in decades with one exception -- Hyundai -- whose January sales were oddly up 14...Full Story