Source: Sudden Debt
The next chart shows how much money was taken out during the housing bubble in the form of equity withdrawal (the Fed estimates that 2/3 of this money was consumed - not saved). The amount is now going down fast and the impact is being felt in the retail sector.
I excised some text blaming the spending on plasma TVs.
Scary Graphs Inside! Come look and turn your hair white!
January 9th, 2007 at 07:41 pm