|What do you think?
||[Aug. 9th, 2009|11:40 am]
If consumer spending drove the economy for 20 years, and that was financed by easy credit, now the credit's maxed out consumers are either not willing - or completely unable - to take on new debt to continue to consume.|
Not only that we're now trying to pay off the debt we do have...
I don't see the economy getting better any time soon - until people get out of a lot of their debt. How long will that take with wages that have stagnated since the 70's?