Tuesday, Dec 05, 2006

Production is being replaced by consumption in the US!

BBC: US services surprise with growth

The US service sector, the biggest part of the world's largest economy, has grown unexpectedly fast in November.
According to the Institute for Supply Management, its services index rose to 58.9 in November from 57.1 in October.

Just like the UK, apparently an economy can boom by just spending other people's money and servicing that spending! Apprenetly this is totally sustainable in the long term too...

Posted by tyrellcorporation @ 05:07 PM (471 views)
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2 Comments

1. the bald man said...

Its callled living on borrowed time. I would guess the growth is completely funded by consumer borrowing.

Wednesday, December 6, 2006 09:04AM Report Comment
 

2. indiablue19 said...

Of course it's possible, just look at London! What isn't financial empire is civil service to keep order in the financial empire.

Thursday, December 7, 2006 01:15AM Report Comment
 

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