Consumer confidence falls off the cliff

The Pew Research Center has been tracking consumer confidence for decades and their most research survey shows ahorribllypessimistic Americans.

92% of the public rates the national economy as only fair or poor and 61% say their personal finances are fair or poor.Both numbers are the most negative in the last 15 years.

73% say that they plan to cut back on Christmas gifts.

What’s this got to do with China? It means thatAmericans are going to buy a lot less doodads, trinkets, and clothes from Chinese factories.