POSTED: Monday, October 7, 2013 - 6:06pm
UPDATED: Tuesday, October 8, 2013 - 10:08am
The recovery seems to only be limping along, and not just in the U.S.
Around the world, this recession has proven to be a tough one to get over.
Five years ago at this time, we were watching in horror as Lehman Bros. stock brokerage went swirling down the porcelain and everyone wondered, which of the dominoes is next.
Unemployment followed the stock crash, and everyone who thought the go-go years were never end, got a cold dose of reality in the face.
And this recession was worldwide.
So, the Associated Press surveyed households in the 10 strongest economies around the world to see what has changed about their attitudes toward money and debt.
Now, driving down the south loop past all these beautiful dealerships, it’s easy to get that new car itch.
And while cars are doing well, when it comes to other money itches, most folks are resisting.
The biggest findings of the survey…
A lot of folks are scared of the stock market.
They are shunning any new debt other than what is absolutely necessary.
They are hoarding cash.
And they are spending as little as is necessary.
Safety and risk aversion seem to be rampant.
Unfortunately, a fast recovery depends on spending money, and that’s not happening.
While folks are investing today, they are going in with their eyes open.
And no one thinks they are going to hit the big casino.
That casino closed in 2007.