Don’t Lose Sight of The Macro Message: U.S. Personal Income Fell $505.5 Billion, Sales Plunge, French Unemployment Rises Again to Highest Since 1999, Fitch Downgrades Italy, China’s Economic Crisis Looming, Dollar Breaks 10-year Falling Channel And The Euro Is Breaking Down!
March 8th, 2013
US Consumers Forced To Record Borrowing For Student Loans As Income Plummets Most In Twenty Years in January
The personal income drop fell $505.5 billion in January or 3.6% compared to December, marking the most dramatic decline since January 1993, according to the Commerce Department. This has led to economics watching consumer spending, which accounts for approximately two-thirds of the US economy.
The mainstream media is blatantly trying to cover up the real damage done in the economy.
Wholesale Inventories Surge Most In 14 Months, Sales Plunge