The Minsky zone piece reminded me that I've been thinking that Rob
Scaap's moment has arrived. US consumers have been living on the edge
and now face much higher costs for commuting, home heating, electric
power --- all busting the budgets.
Meanwhile car and truck sales have been sustained only by large and
larger price cuts, and now profits are topping out and slipping. Stock
prices aren't going up, and lots are going down.
If the US goes, can Europe and Asia be far behind?
This may be the moment that Rob has foreseen.
Gene Coyle
