Kool-aid²

How many "job-less recoveries" can be sold? 2 or more? By all accounts (from left to right) the

growth experienced worldwide in the recent past was a direct cause of american consumer spending.

Now this group of people is overleveraged, with the lowest savings rate in the developed world, their 401K mostly wiped out, health coverage worries, delaying retirement, outsourced, etc.

Business spending? They need a reason to do that. It usually ends up being consumer spending/demand.

So the worldwide economy needs a consumer collective that picks up that tab.

Europeans: aging, Chinese/Indians: depending on somebody else's spending, Rest of Asia: ?, Latinamerica: thinking about "El Che" and other forms of wasting time. Africa: deeper problems.

Wouldn't it be funny that after all the real economic power lies in the people?