http://www.zerohedge.com/news/2015-11-21/recovery-we-never-came-close
Americans have taken on more revolving debt (credit cards basically) since March than they did the previous three years combined.
Economists are, as you would expect, nearly ecstatic over the
impoverishment. To them, it signals the final capitulation of consumers
to that which Janet Yellen has been professing since her term began. But there is a huge problem with that view; if consumers are borrowing, what are they doing with the balances? Instead, this discontinuity can only be consistent where consumers are completely out of options. If
there are noticeably fewer goods being shipped here and within here,
the US, and borrowing has just exploded at the same exact time then it
is rather easy to conclude far more of full recession than recovery.
No comments:
Post a Comment