"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
Thursday, December 10, 2009
No, consumers are not overleveraged. Look at the disaggregate data by income quintile.
From our friend Dr. Rothman: Maybe consumption will rebound quicker than we think?
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