Puzzled? Seriously? Let's see, we have witnessed the crooks on Wall Street who made this big mess by slicing and dicing home mortgages into investment scams, manipulating ratings and cheating the system to put people into homes they couldn't really afford and sell those mortgage bits as safe investments when they were truly risky as hell. Then when the whole house of cards came crashing down those same homeowners who got stock with underwater mortgages in houses that are worth way less than they paid for them got to foot the bill as taxpayers on bailing out these fraudster banks, insurance companies etc. that were deemed "Too Big To Fail".
Then on top of it all credit gets tightened up and credit scores of these people who got hoodwinked by these slicksters are shot all to hell so they can't even qualify for a loan to buy a bag of chips out of a vending machine. 14 million people are out of work, those lucky enough to have a job have fewer hours and/or have seen their wages stagnated while energy and food prices soar.
So this guy, who is supposed to be the economic superstar is puzzled by consumer's being cautious? Really? If these are our best and our brightest folks we are in REAL trouble.