IMF weighs in on American Consumer
The IMF is again weighing in on the American Consumer. The article states that the "greatest danger" to the world economy is slowing of consumption by Americans, as there is no other engine of growth in the world. So evidently, we must continue on our spending binge, going deeper and deeper into the hole, so that there can be "growth". So I guess for every hour of work that I do, 10% goes to Asia, 10% goes to Europe, 5% goes to emerging markets, 35% goes to Uncle Sam. It's nice to know that I have so many business partners. I take great comfort in knowing that my fellow countrymen are taking on trillions of dollars in debt for the cause.