More to Come?
[via Clusterstock]
Howard Davidowitz says the worst is yet to come. Things have been quite rough on the consumer:
An $8 trillion negative wealth effect from declining home values. A $10 trillion negative wealth effect from weakened capital markets. A $14 trillion consumer debt load amid “exploding unemployment”, leading to “exploding bankruptcies.”
This video contains nothing surprising - but it’s a great overview of some of the challenges we’re facing.
