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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Mike Johnston who wrote (88017)10/27/2007 2:31:36 PM
From: pogohere  Read Replies (1) of 110194
 
"The major pain is coming as people's savings, real wages, pensions, annuities and insurance policies are being wiped out."

Does this wipeout of what is essentially the middle class have a bearing on the price level? If consumption is 70% of the economy and the middle class has no boodle/credit and can't consume, what happens to prices?
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