The big question is whether this is a permanent consumer buying shift.

If it is, this is a big problem for an economy that prides itself on being more than 70% consumer driven.

Also, as you drive through familiar neighborhoods, have you noticed browner and slightly less manicured lawns? And, in the evenings, have you noticed that many homes are dark that were previously lighted at night?

Think this has anything to do with your July power bill was up more than 50% from July of 2007? How do you think increased water prices are affecting the average American?

A better question is what do you think winter heating bills will do to consumption?

Does anyone think this is just a small problem with middle America? I have friends that have what once were considered to be great middle class jobs. They now have problems just meeting their monthly obligations. And they have no wage pricing power. And they face increased commodity costs. And their home value is declining. And their 401K's and retirement plans are shrinking.

This is not just your neighbor's problem. If the average American consumer is struggling, the nation struggles. If the nation struggles, the exporters of the world struggle. If that happens, your choice of investments, no matter where they are in the world, face challenges.

Never was there a better time to remember Will Rogers when he said that he was more concerned with the return of his investment rather than the return on his investment.