With so much hinging on confidence, this nails the recovery's coffin shut.The sun also rises, and the sun goes down, and hastens to the place where it arose.
—Ecclesiastes
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Bearing in mind that, credit availability to the upper 20% of wage earners likely is as constrained as is the case for the lower 80% ... and considering the likelihood debt burdens are becoming just as weighty among affluents as they are among those living paycheck to paycheck, the practical significance of a low savings rate over recent decades raises to a point above the horizon the hammer set to smash what remains.
Hanes hits the nail right on the head. 2006 was a long, long time ago on a planet far, far away.
—Tom Chechatka
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