There has still been no meaningful recovery in real personal income. The nascent recovery in consumer spending has come out of savings and from government transfer payments. Neither source of income is sustainable.
Jeremy Jones, CFA
Latest posts by Jeremy Jones, CFA (see all)
- Can China’s Stop-and-Go Market Reforms Work Forever? - August 18, 2017
- Is China Hiding an Avalanche of Debt? - August 17, 2017
- How Will the World Handle Such Unprecedented Central Bank Balance Sheets? - August 16, 2017