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This is a theme we’ve been touching on a lot lately.The UK continues to look like a good model for what the US economy faces, as it begins to take austerity seriously.
Recently, there has been a precipitous drop in UK consumer confidence, and the knock-on effects to certain retailers has been quite notable.
Now a new study shows a gigantic drop in UK disposable income — the biggest since 1921.
Politicians in the US keep warning about the possibility of a Greek or Ireland scenario, while at the same time inducing an ugly UK-like one.