There is no other way to describe it, complete failure...
Squeezed on both sides by stagnant wages and rising prices, consumers believe the chances of bringing home more money one year from now are at their lowest in 25 years, according to analysis of survey data by Goldman Sachs.The squeeze is far from over....
Real hourly wages have dropped 2.1 percent on an annualized basis over the past six months, a rate of decline not seen in 20 years, according to Goldman.Welcome back Carter....
“I am much more concerned that the second half resurgence we all expect never arrives and by early 2012 we are in a recession,” said Joe Terranova, chief market strategist for Virtus Investment Partners and a ‘Fast Money’ trader.And it only took a few trillion in new debt to accomplish this....
