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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (62118)5/29/2006 7:43:40 AM
From: Mike Johnston  Read Replies (2) of 110194
 
No matter what happens, the average, paycheck to paycheck consumer will be decimated in the coming years. There is only a question of how ?

1. A housing depression with millions of layoffs and foreclosures. With finance, construction and retail industries going into major contraction it would not be a stretch to assume that 10% of population would lose their jobs, translating into about 14-15 million jobs lost. Also 10% or more of housing stock might go into foreclosure.

2. A dollar crisis causing many consumers not being able to afford even a japanese subcompact and possibly even a Sony television set. Lower income consumers would not even be able to shop at Wal Mart. Domestically manufactured goods would increase in price as well, so that while domestic stuff might be a bit cheaper, consumers might not be able to afford it either.
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