By Jamie Coleman� || September 2, 2011 at 16:30 GMT
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Anybody have a parent or grandparent who loved through the Great Depression?
They bought only what they needed and kept it until it wore out.� They treated debt like cholera.
Well folks, this is our great depression. The Fed?s can lower rates and deploy stimulus all they want. People will be fiscally cautious from a personal perspective for at least a generation to come.
That?s not to say the economy won?t recovery but it will make the recovery a very gradual, long drawn-out affair.
Remember that the next time a politician on either side of the aisle says he has a plan to revive the economy on a dime. Ain?t gonna happen.
Source: http://feedproxy.google.com/~r/forexlive-rss/~3/ZVnyxCQInoc/
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