According to the latest Ipsos Mendelsohn Affluent Survey, 47 percent of participants said the economy is their primary concern, up 5 percent from last month. In addition, 85 percent of those who make over $100,000 a year say the economy is still in a recession. Bob Shullman, president of Ipsos Mendelsohn, shared his insights on the US-based survey.
“The affluent are continuing to be concerned about the economy—in particular, unemployment and the lack of jobs—and they are very concerned about the increasing debt issues,” Shullman told CNBC.
“They are not seeing things get better.”
In addition, Shullman noted that the wealthy are still reluctant to open their wallets to spend.
“Their spending decisions are still very tight—they’re not spending as much and that’s not good for the economy,” he said.
Scorecard—What He Said:
- Shullman's Previous Appearance on CNBC (Jun. 8, 2010)
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Market Views—Across the Board:
- Markets May Fall 25% in Next 2 Years: Chief Investor
- Art Cashin: Watch This S&P Resistance Level
- Markets to Stay 'Very Volatile': Stock Picker
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CNBC Slideshows:
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CNBC Data Pages:
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Tuesday's Top Dow Laggards (as of this writing):
Intel
Alcoa
Microsoft
Johnson & Johnson
Home Depot
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Disclosures:
No immediate information was available for Shullman or his firm.
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