The final straw on the economic camel’s back
Author: raj
Category: Economics, Finance
Via The Big Picture:
For the first time since the Great Depresssion, savings rate is now negative. See below the 77 year chart for Personal Savings Rate.
Consumer spending accounts for 70% GDP. Now go figure how long the party will last. Get ready for a recession folks. Visit Barry’s Big Picture blog for a more indepth commentary.
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