Summary
CHICAGO - A year after "shop 'til you drop" stopped, the nation fixates on this question: Will consumer spending ever return to pre- recession levels?
Increasingly, the answer appears to be no. Belt-tightening in bad times is normal. And after every other recession since World War II, penny-pinching quickly fell out of fashion and Americans resumed their demand for houses, cars and everything else.See the full content of this document
Extract
New Frugality Turning Into New Reality
This time, it's different. Like the Great Depression in the 1930s, the Great Recession seems destined to turn many Americans into lasting coupon-cutters, scrimpers and savers. Consumers dug a debt hole over the past decade from which there's no easy...
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