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Monday, June 26, 2006

It’s the Economy That Matters

Came across this piece by James Altucher titled "The Underlevered American Household". The US is clearly consuming more than what it is earning. While this is not news, the accelarating trend definitely is.
The world’s economic engine sees consumer spending accounting for almost 70% of the US GDP. For the first time since the Great Depresssion, savings rate is now negative. Look the 77 year chart for Personal Savings Rate. Consumer spending accounts for 70% GDP. Ut is apprarent that this party will not last long - atleast in its current structure. The fear of recession looks ominous looking at this.The falling markets have already sent a strong signal to this effect. Visit this link for more details.

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