On this traditional start to the summer vacation season, Rasmussen reports that Americans Cut Summer Vacation Plans:
Just 35% of Americans plan to take a summer vacation this year, and most of those vacationers don't plan to spend as much as they have in years past, according to a new Rasmussen Reports national telephone survey.
For the previous two years, 38% of Adults planned to vacation during the summer. But only 34% now say they actually took a summer vacation last year. Sixty-four percent (64%) did not.
In late May 2006, 55% of Americans planned to take a summer vacation.
The report goes on to point to the 18-29 year old group as the most likely to be cutting back on vacations.
Our society is getting a bit too generous towards the elderly as opposed to the producing, and reproducing group. This bodes ill in a variety of ways and supports the Economic Cycle Research Institute's observation that the underlying trend rate of growth of the U. S. economy appears to be continuing its multi-decade decline.
Methinks this fact (if it proves to be a fact) is not priced into stock or house prices.
Copyright (C) Long Lake LLC 2010