Well Kap, I also agree and posted same a few hours ago. I guess you missed it. No big as that conclusion is blindly obvious IMO. And as Phil says we have built an economic world based on over consumption and purchases of basically unneeded crap. This somehow was supposed to make us happier. I don’t think so.

But now we are probably left with the very real prospect of deflation when it finally dawns on people they really don’t need 10,000 plastic and electronic items in their homes. Manufacturers will be scrambling to unload their parking lots and warehouses stacked to the ceiling with widgets. Unfortunately this will also lead to higher unemployment. By the way, you should see the parking lots full of motor homes in our neck as we have several major builders just north of here in Junction City.

I guess we can pin our hopes on the developing world following our lead of over consumption. There is lots of stuff for them to buy. What a prospect to look forward to.

Get your facts first, then you can distort them as you please.