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« More butter, smaller portions | Main | Say anything »

Aug 24, 2009

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winstongator
Third, in countries running current account deficits, consumers need to cut spending and save much more, yet debt-burdened consumers face a wealth shock from falling home prices and stock markets and shrinking incomes and employment.
Maybe that's why consumers aren't spending, but what does Roubini know.
RBM

It won't be a 'U' because the paradigm of growth has hit the wall of resource depletion. I expect 'below trend' for five or more years.

This fall or Q1-'10, expect a head fake.

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