The average American family has $3,800 cash dollars in the bank ... no retirement account whatsoever ... owes $90,000 on their mortgage ... and owes $7,200 in credit card debt. The average American consumer is in "deep puckey" due to personal debt levels.
Consumer expenditures are currently running at 72% of Gross Domestic Product (GDP) .... that's 72%!!!!! This is a number that has never ever been reached at any time in modern history by any nation on the planet ... can you say economic unsustainability?
Saturday, September 29, 2007
Kwik Hits - #1
Posted by Robert Otto at 10:05 p.m.
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