by Mac Slavo, SHTFPlan.com:
Retail parking lots may be full and Americans may be buying must-have electronics, home decor products and new cars, but where’s all the money coming from?
As we’ve suggested previously, the economic destruction following the collapse of 2008 is slowly, but surely taking its toll, forcing many people still holding on to a paradigm of consumption to dip into cash savings, retirement accounts and personal credit lines:
More than four years after the United States fell into recession, many Americans have resorted to raiding their savings to get them through the stop-start economic recovery.
In an ominous sign for America’s economic growth prospects, workers are paring back contributions to college funds and growing numbers are borrowing from their retirement accounts.
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