The Great Deleveraging Continues

[cieldumort]

 CNBC NetNet
Have Consumers Gone on Strike?

The economy may be in worse shape than many economists and businesses expect.
Orders for US durable goods-manufactured items expected to last more than three years-were predicted to rise 1.5 percent overall, and to rise 2.5 percent excluding the volatile transportation sector.

Instead orders fell 0.9

Comments

[kayjayuu]

Um, my "tax cut", such that it is -- meaning, all 40 bucks a month of it -- is going into my gas tank and my grocery bill. I have no "extra" (complete with scare quotes, no less, because goddamnit, I'm a wee bit scared).

I don't understand what's so damn hard to understand about why no one has any money to spend on consumer goods!

[floundah]

Agreed.