the tale of two economies: as europe slides into recession and god forbid, what does it mean to go into deflation?, and japan sputters, china looks inward a bit (still ok at 6-7% GDP). this could last a while...the ECB does not have the feds tools, and japan is in its 3rd decade of blahhh (with the exception of last years burst of energy). it might mean that the US is a more important market for US produced goods. hmmmm....that may be why you need a strong, big, vibrant, growing consumption class...aka, the middle. the rich 1% may buy a very expensive sub-zero refrig, but they still only need 1. we need the fat part of the bell curve (i.e., lots of families & households) to buy the vast majority of the refrigs. if the fat part of the bell curve in declining HH income, they dont buy refrigs.
Posted on: Wed, 15 Oct 2014 15:03:38 +0000
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