>>The consumer is tapped out, he's up to eyeballs in debt and he just fell and he can't get up!!
I think that is fair.
Two questions are important, as I see it:
WHAT, if anything, will be the engine for economic growth? If it is out there I do not see it. (It could be reinflating the credit economy. That is what we have done for the last 25 years.)
Will our levered-credit economy unwind? If so, things will get much worse.
ij
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