Vertical Branding Inc.(fka VBDG)

[hingfdiuh]

US consumers cut borrowing by $12B in August

http://finance.yahoo.com/news/US-consumers-cut-borrowing-by-apf-3466825138.html?x=0&sec=topStories&pos=1&asset=&ccode=

"Consumers also are likely to restrain spending as long as jobs remain scarce. The Labor Department reported last week that the unemployment rate rose to 9.8 percent in September, the highest in 26 years. Many economists believe the rate will peak above 10 percent sometime next year.

Retailers already are bracing for another meager holiday season. The National Retail Federation said Tuesday that it expects sales during November and December to fall 1 percent from last year. While that's not as steep a drop as in 2008, last year's holiday sales saw the worst annual drop on records dating to 1967."