[lbo-talk] Davidowitz & Assoc.: US facing at least 20 year decline in standard of living

[B.]

http://www.marketwatch.com/news/story/americans-enter-new-cycle-tough/story.aspx?guid={2AD5D9FF-408C-443E-B295-F154C2DF194E}&siteid=yahoomy

Economy forces major shift in spending

Consumers stay home and opt for frozen foods, Spam and
crafts

By Jennifer Waters, MarketWatch

Last update: 6:29 p.m. EDT June 13, 2008

[...]

"Suddenly consumers are focused on buying what they
have to have as opposed to buying what they want to
have," said Howard Davidowitz, chairman of Davidowitz
& Associates, a New York-based retail consulting and
investment-banking firm.

"This is a permanent change for Americans, who will
face a declining standard of living over the next 20
years," he added.

[...]

http://www.marketwatch.com/news/story/americans-enter-new-cycle-tough/story.aspx?guid={2AD5D9FF-408C-443E-B295-F154C2DF194E}&siteid=yahoomy