Eduard Fischer

Consumers Spending Less Than Justified by Actual Income

It's kind of amazing that every comment posted here is more intelligently thought out than the original article. Dr. Conerly does not even seem to take into account the recent deflation of the credit bubble or the huge hole that was blown in the over leveraged banking system with the retreat of the real estate market. Or the even bigger hole that is going to appear in the credit system when another slew of ARM's start to reset in May and then these resets continue into 2012.