Experts predict increased purchasing power

Jan. 1, 2010 at 12:16 PM
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NEW YORK, Jan. 1 (UPI) -- People in the United States should experience more purchasing power in 2010, while embracing grass-roots environmentalism, experts predict.

Elizabeth Warren, chairwoman of the Congressional Oversight Panel, suggested 2010 will be a year in which U.S. consumers revel in increased credit, but what those consumers buy will likely not alter much, The Christian Science Monitor reported on its Web site Thursday.

"We're not going to see any movement on iPods, big-screen TVs, or even real estate," said Warren, who is also a Harvard University professor of contracts law. "I think the big shift is going to come in credit."

Meanwhile, 2010 could be a year in which more U.S. residents take part in local environmental efforts, a public policy lecturer predicts.

Elaine Kamarck, a lecturer at Harvard University's Kennedy School of Government, said the national political system is struggling, "so I think you'll see more grass-roots environmentalism."

The Science Monitor said if recent trends hold, 2010 could also see more teenagers reading books, more senior citizens playing video games and the U.S. birthrate decreasing.

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