The Hammer

The Pain of Deleveraging Hits the Consumer

The consumer is toast for years to come. The Housing ATM free money machine has been shut down, incomes have negative increases vs inflation and large debt loads will force years of deleveraging and savings.
Our consumption based economy is going pooof before our eyes. Unfortunately bennie boy thinks he can jump start consumption again. LOL!
It ain't going to work this time around...maybe for a short burst but there is no organic industry growth that can replace the substantial artificial demand from the credit bubble for years to come.