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  • Weak Consumer Spending - Get Used to It [View article]
    "Many are technically insolvent, their assets now worth less than their debts. And the three Ds come into play: a downturn leads to debt deflation, deleveraging, and ultimately depression. The D-Process is what truly separates depression from recession and why I have said we are living through a depression with a small ‘d’ right now."

    Absolutely: the recession is over; the depression has begun. (Debt-driven delevering and defaulting dominoes.)
    Aug 17 05:12 am |Rating: +1 0 |Link to Comment
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