Page A1: Consumer Thrift in US may last after recession: Unease about future causing persistent weakness - seen as a mainstay of the economy:
Reason: Consumer sector occupies about 2/3 of GDP.
Mark Zandi, Chief economist at Moody's Economy.com:
"Lower income households can't borrow and higher income households no longer feel wealthy."
Reason: Real Estate Prices are down and stocks have not recovered yet to the previous level.
Francis Shieh a.k.a. Xie Shihao is still in the library after glancing thru "Freak0nomics" again!
I would prefer to call "Lingonomics" in the light vein with rhetorical expressions.
August 29, 2009 at 2.22 p.m.
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