Why the Economy Is Doing "Well"
http://www.marketoracle.co.uk/Article1322.html
An interesting article on the Duesenberry Effect. We keep hearing that the economy is doing well. Since consumer spending is 70% of the economy, all that statement means is that consumers are spending a lot. The Duesenberry Effect explains why that doesn't preclude consumers from living on the edge.
An interesting article on the Duesenberry Effect. We keep hearing that the economy is doing well. Since consumer spending is 70% of the economy, all that statement means is that consumers are spending a lot. The Duesenberry Effect explains why that doesn't preclude consumers from living on the edge.