Bad News: Americans Are Acting Responsibly

This Forbes article, like all financial articles, is singing the blues about those suddenly thrifty Americans. Without an increase in spending, the economy won't recover.

American consumers had been an engine global economic growth for much of the past two decades. For the slowdown that began with the U.S. subprime crisis -- itself an emblem of the American consumer culture -- to end, something will have to pick up the slack. A resumption of the U.S. retail buying binge seems not to be it.

Either Americans will have to revert to their careless spending habits or other countries will have to pick up the slack. How twisted is that?

http://www.forbes.com/2009/03/07/nonfarm-payrolls-february-markets-economy-layoffs-obama.html?feed=rss_popstories