Mar 31, 2012

American Spending Goes Into Overdrive As Savings Plunge To 2008 Levels

ZeroHedge - 
in February personal spending soared ...while incomes barely rose... Which means the balance had to be savings funded. So even as we have seen retail weakness in the past three months, we now know that it was not only credit funded, but also forced US consumers to burn through their meager savings. And all this before the gasoline price shock hit....

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