Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: TobagoJack who wrote (14334)	10/29/2004 11:39:28 PM
From: mishedlo	Read Replies (1) of 116555

Households Run Record $342 Billion Deficit! Check this out With today's release of third quarter GDP data, we see that households outdid themselves by spending a record $342 billion at an annual rate on consumer goods and services and residential investment more than they received in disposable (after-tax) income. The history of household surpluses, now deficits, is shown in Chart 1. ======================================== I defy ANYONE to tell me this is sustainable and that correcting it will not involve a ton of pain and lower standard of living for most of the US. aka DEFLATION Mish northerntrust.com

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