This article is complicated, but a must read because it is important and effects every aspect of our lives. We must prepare people. Get out of debt if you can and become more self reliant.
From the financial times.com
The global economy is being hobbled by a new generation of zombies – the economic walking dead. American consumers are in the early stages of an unprecedented retrenchment. In the 13 quarters since the beginning of 2008, inflation-adjusted annualised growth in consumption has averaged just 0.5 per cent. Never before in the postwar era have US consumers been this weak for this long.
The zombie syndrome has an important antecedent. It was, in fact, a key symptom of the Japan disease, which led to the first of two lost decades for that country. Encouraged by the government, Japanese banks kept extending credit lines for a broad cross-section of insolvent companies – postponing restructuring and inevitable failure.
I’m loving the Zombie analogy. But it’s creepy how much Zombies are being talked about these days. Recall the CDC educational video? And the Zombie flash mobs?
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