The Consumer Goes On Strike

| September 18, 2010

By Gary Shilling Consumers Go On Strike It wasn’t until late 2008 that we had the collapse in home equity as house prices nosedived (Chart 2), rising layoffs (Chart 3) and the drying up of consumer lending drove consumers into retrenchment. But they suddenly went on a buyers strike in the last four months of 2008, […]

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