Prosper by consumer spending, now suffer for of it. »
Posted By woodlawn_review 1 year, 2 months ago in Business & FinanceThe flaws of the US and credit economy are now being exposed one by one. The latest evidence to indicate the length of the recession/depression could very well be later than sooner. The caged beast known as consumer spending has now proven it can injure its keeper. The Federal Reserve reported consumer borrowing fell in August for the first time in more than a decade as households, battered by rising job layoffs and the decaying economy, cut back sharply on their use of credit.
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