Household Deleveraging Slows Recovery | The Big Picture

Ritholtz charts on how household deleveraging slows recovery.

I think this is correct. US consumers are still repairing their household balance sheets which have been distorted due to super easy credit.

From the comments:
“The United States economy is like a poker game where the chips have become concentrated in fewer and fewer hands, and where the other fellows can stay in the game only by borrowing. When their credit runs out the game will stop.”
-Marriner Stoddard Eccles, Beckoning Frontiers (1951)


In The Meantime Iceland Is #Winning | ZeroHedge

The little country that could.

When presented with a bad deal by the international community and the banks, Iceland said, “No thanks” and demonstrated the validity of the Austrian view that a short sharp shock is preferable to a long drawn out soft landing.

Meantime Iceland is #winning