Monday, October 17, 2011

Consumption going down

More Important than Historical Statistics--Private Debt Decline – Comstock

I’ve been saying for years that Consumption at 70% of GDP is unsustainable.  Comstock calls a double dip recession in the works, as Rosenberg does in last post, but the implications of Consumption falling back to its long-term average percent of GDP are secular, not cyclical. 

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