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October 06, 2008 – Comments (2)

Yves has a piece about the slow down in consumer spending.  I didn't realise that the US economy is 2/3rds consumer spending.  Then next release on consumer spending is expected to show a 3% decline?  That is huge.  2/3rds of 3 is a 2% contraction in the overall economy... In a single quarter?

This is projection, but this is one set of numbers I'm going to be watching for to how close/far this projection comes in.

2 Comments – Post Your Own

#1) On October 06, 2008 at 8:46 AM, Gemini846 (56.83) wrote:

2/3 is about right. Why do you think they want to prop up these mc-mansions and keep the home equity lines flowing.

Why do you think GM's post 9-11 (very successful) add campeign was "let the good times roll" rather than encourage people to save up for harder times they encouraged people to spend wildly and "help the economy"

Maybe they feel guilty for encouraging this housing mess.

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#2) On October 06, 2008 at 10:40 AM, FoolishChemist (97.23) wrote:

First they complain that people aren't saving enough and spending too much on frivolous items.  Now people are saving and just buying the essentials, and they are complaining that the economy is falling apart.  It's really sad that we got to the point that doing the sensible responsible thing is bad.

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