Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich

Saturday, July 4, 2009

The consumer as 70% of GDP needs a footnote.

... Almost all the growth in personal consumption as a share of the economy has been health-care spending...personal spending ex-health-care as a share of GDP has been flat for decades. This suggests there may not be too much frivolous shopping to cut out...

---Michael Santoli, Barrons, 7.6

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