The 'W' Effect
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=26174
Older people are scared and scarred. They are moving into saving survival mode and cannot be relied upon to fuel consumer spending. Most young and middle-aged Americans have also reached their credit limits. The era of excessive “spend-what-you-don’t-have” consumerism has ended. America can no longer fuel economic expansion through consumerism based on artificial wealth. That bubble has burst.
Useful link:
www.diamonds.net
How true! Today money is scarcer than diamonds.
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