The “shop till you drop” economy
Courtesy of Benign Brodwicz, at THE ANIMAL SPIRITS PAGE
With the collapse of Investment, Consumption has roared to record highs as a percentage of GDP. Data to 2009Q4. Who would want to invest in the United States when there are fiscally solvent, rapidly growing emerging economies to invest in?
GDPI = Gross Domestic Private Investment; PCEC = Personal Consumption Expenditures. Both in current dollar terms.