American Consumers Increasingly Pessimistic Amid Economic Uncertainty

American consumers are feeling increasingly pessimistic about the economy and their financial futures, according to a pollster and author who spoke at the Greater New Haven Chamber of Commerce's Business Expo. Frank Luntz, author of "What Americans Really Want ... Really: The Truth About Our Hopes, Dreams, and Fears," cited research showing that just 15 percent of Americans have a positive view of corporate executives, while 22 percent feel positively about Fortune 500-type companies. At the same time, many people have lost hope that the government can pull the country out of the grips of economic crisis, with 46 percent believing in UFOs and only 28 percent believing Social Security will exist when they reach retirement.

Key Takeaways:

• Only 15 percent of Americans have a positive view of corporate executives, according to research by Frank Luntz.
• 22 percent of Americans feel positively about Fortune 500-type companies, according to Luntz's research.
• Many Americans have lost hope that the government can pull the country out of economic crisis, with 46 percent believing in UFOs and only 28 percent believing Social Security will exist when they reach retirement.
• Future generations should be pushed to ensure their future is brighter than the bleak views of their older counterparts, Luntz said.
• Educating young people will be key to future success and prosperity, according to Luntz.
• The Greater New Haven Chamber of Commerce's Business Expo played an important role in connecting businesspeople with vendors, competitors, resources, and each other in a weak economy.
• The event's turnout was significant, with several thousand area businesspeople attending.

Statistics:

• 15 percent of Americans have a positive view of corporate executives, according to Luntz's research.
• 22 percent of Americans feel positively about Fortune 500-type companies, according to Luntz's research.
• 46 percent of Americans believe in UFOs, according to Luntz's research.
• 28 percent of Americans believe Social Security will exist when they reach retirement, according to Luntz's research.
• 200 businesspeople attended the speech by Frank Luntz at the Greater New Haven Chamber of Commerce's Business Expo.

Sources:

• New Haven Register, November 19, 2009
• Frank Luntz, "What Americans Really Want ... Really: The Truth About Our Hopes, Dreams, and Fears"
• Greater New Haven Chamber of Commerce's Business Expo program
• New Haven Register, Conn. copyright 2009
• McClatchy-Tribune Information Services