Sunday, October 30, 2011

Paul Craig Roberts: Americans: Awash In Spin

A country’s consumers cannot forever draw down savings or go deeper into debt. For an economy to recover, there must be growth in consumer income. That growth is nowhere to be seen in the US. A large percentage of the goods and services sold to Americans by American corporations are now produced abroad by foreign labor. Thus, Americans no longer received incomes from the production of the goods and services that they consume. The American consumer market is on its way out.
http://www.informationclearinghouse.info/article29548.htm

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