Quote:
Originally Posted by darkphantom
help o.o
good thing I got out of the market, best thing we can do as consumers right now is spend, but like everyone has said, panic != spending, and that just makes matters worse.
*sigh* consumption rates just keep on falling...
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Savings are going to rise. Housing ATM = gone. HELOCs and credit lines getting constrained. Risk aversion increasing. Savings' rate still only about 2% ... it was 7-8% last time we had a real consumer retrenchment in 90-91.
The US consumer has to stop being the hedonist-of-last-resort.