What it means for consumers

Newsday business reporter and columnist Carrie Mason-Draffen talked to economic experts about where exactly the consumer stands in the midst of a possible recession.
She points out that is is consumers' money that is the key economic driver of the U.S. economy.
Her first question: Is fear taking hold among consumers?

"I think there will be fear among investors losing money, but among consumers, it's more than fear," said Panos Mourdoukoutas, professor of economics at the C.W. Post campus of Long Island University. "It's a lack of money, a lack of liquidity. Consumers are in a bind. They have no money to spend."

To read the full column click here.