The Conference Board released new data yesterday - U.S. consumer confidence plummeted to its lowest level on record this month. Businessweek reports that "consumers are extremely pessimistic." Consumers expecting business conditions to worsen over the next six months surged to 36.6 percent from 21.0 percent. So can someone please tell me why the malls (at least in my local Seattle area) are still packed? If people are so depressed about the economy and afraid they will lose their jobs what are they doing shopping? Perhaps all the parking spots are being taken up by mall walkers or those resorting to meals at the food courts? It will be interesting to see what holiday shopping season brings and if we'll see the crazy post-thanksgiving shopping stampedes this year.
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