Saturday, Jun. 12, 2010
By Dale Kasler
Investors were reacting to a Reuters/University of Michigan survey that showed a healthy increase in consumer confidence, which seemed to take everyone’s mind off the fall in consumer spending.
Still, investors remain wary. That’s affecting their behavior as consumers, said Keith Springer of Springer Financial Advisors in Sacramento.
“Their 401(k)s have a psychological effect,” he said.
Springer is among those warning of a so-called double-dip recession, in which an economy that hasn’t fully recovered undergoes another downturn. He said much of the recovery has been fueled by government intervention, which is likely to taper off.
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