AMARILLO, TX - The devastation in Japan could potentially have an affect on economies world wide, including right here in the U.S. Japan is the world's third largest economy and one of our biggest trading partners.
One area investor says although he does not expect see changes in consumer spending habits in the near future, it is something they are paying close attention to.
Economists say, as long as the nuclear crisis does not worsen, the overall impact on the United States should be minimal.
A senior investment officer at Amarillo National Bank explains that the biggest impact may be a psychological affect on the American consumer, including residents here in the Texas Panhandle.
"As they watch the news and see the tragedy they tend to want to be around family, that's kind of the natural reaction. As you're around family your priorities perhaps sync more towards family and less towards entertainment or something else that might generate more cash flow for an economy" said Matt Ramsey, Senior Investment Officer at ANB.