Tuesday, Oct 30, 2007
This is the real problem...
Bloomberg: U.S. Economy: Confidence weakens.
Certainly it's a hobby horse of mine, but this is the stat that shows us the nature of the problem the world economy now confronts. The US consumer has fuelled global growth for 10 years, but that's it. Asian demand will not fill the gap, so expect slashed US rates, much weaker USD, collapsing stock markets (eventually) and houses, as well as any other asset such as art, through the floor as manufacturing grinds to a halt, unemployment soars and we all understand the nature of the bubble that blew. Or something.
*adjusts tin foil hat, buys rice and beans and moves to Michigan*
Posted by stoatgobbler @ 05:33 PM (208 views) Add Comment
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