The world's addiction to debt-financed consumption risks putting the U.S. on the verge of...

|By:, SA News Editor
The world's addiction to debt-financed consumption risks putting the U.S. on the verge of another recession, Robert Arnott says. The ripple effect of the debt crisis is the impact it will have on the rich, Arnott predicts. Wealthy consumers around the globe are likely to rein in spending to pay higher taxes and to protect their nest eggs, bolstering a worldwide slowdown.