Industrial Insight

We need production…. | August 18, 2011

http://www.theatlantic.com/business/archive/2011/08/the-consumption-economy-is-dying-let-it-die/243628/

The Consumption Economy Is Dying—Let it Die

By Michael Mandel Aug 15 2011, 1:24 PM ET

Consider this: Personal consumption in real terms is 11% below its long-term trend, based on the 1997-2007 period. That sounds bad enough. But nondefense government investment is 17% below its long term trend, as state and local governments cut back. And counting all private sector enterprises, nonnresidential investment is a stunning 25% below its long-term trend.

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