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Our good friend JL sent this laugher along from The Economist…is it any wonder why old media financial coverage is heading towards extinction? The Economist reports: The behaviour of American consumers has been rather confounding of late. Early in the year, retail sales were surprisingly strong, even as labour markets remained exceedingly weak. Recently, however, […]
Late last week, our good friend and fellow deflationist Carson sent over a link from Mish Shedlock’s blog, reporting a sharp annualized decrease in consumer and revolving credit. I just plotted the Fed’s historical data since 1978 (which I chose because there was a single quarter anomaly in 1977 that I didn’t feel like dealing […]
Another “lost decade” is probably about the best Americans can reasonably hope for, based on this compelling case made by Mike “Mish” Shedlock over on his blog. Bottom line is that, over the last 20+ years, Americans spent too much money, and ran up too much debt. Now, like it or not, we’ll be forced […]
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