CAN CONSUMER SPENDING FUEL RECOVERY?

The latest data show retail sales rose 0.4 percent during the post-holiday season, while Macy's (NYSE:M - News) indicated strong sales growth in the past quarter.
But Whitney said such figures can be misleading in that the spending is being driven mostly by shoppers at opposite ends of the spectrum. The ones in the middle, she said, are finding it harder to be active consumers."
http://finance.yahoo.com/news/middle-class-getting-pushed-banking-141920890.html

and
"Americans are going to be a lot more tightfisted with their tax refunds this year, with more people planning to save the cash they get back from Uncle Sam instead of spending it."



AND: http://finance.yahoo.com/news/fitch-downgrades-greece-115003623.html

Fitch downgrades Greece

Fitch ratings agency downgrades Greece from CCC to C, indicating default 'highly likely'