The Day of Reckoning Is Coming: Personal Consumption Collapsing, U.S. Birth Rate Hits Record Low, More Adult Children Moving In With Mom And Dad, And It’s Payback Time For Debt Of All Types!
November 30th, 2012
Ugly Q3 GDP Confirms Personal Consumption Collapsing
…Sadly not even Sandy can be blamed on the collapse in consumption in Q3, for the simple reason that the Hurricane did not hit until 1 month into Q4. Perhaps it is Sandy’s fault it did not hit sooner. In the meantime, all those hoping that the US consumer is finally waking up from his slumber and is spending (on credit of course) like a drunken sailor (for anything more than iPads using student loan proceeds), will have to wait until Q1 2013, as the Q4 2012 number will be even uglier than the one just released….
And a longer-term confirmation of the collapse of Personal Consumption courtesy of John Lohman: