Buying things you don't need with money you don't have?
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Warned about during November 2006

US Consumer’s Insolvency dead ahead
November 29, 2006
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Source: Rumormillnews
US consumer’s insolvency, a catalyst of the impact phase of the global systemic crisis.

For the LEAP/E2020 team, it is from now on time to remove the ‘conditional’ from this scenario. It is currently happening throughout all the United States and constitutes a catalyst of the impact phase of the global systemic crisis. The US consumer, i.e. the US middle class, basically becomes insolvent, victim of overwhelming debt, a negative rate of saving, the bursting of the real estate bubble, the rise of interest rates and the collapse of US growth. All these elements are dependent, and mutually reinforcing, to plunge the United States, starting from the end 2006, into an economic, social and political crisis without precedent.



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