Reliance On Consumer Generated Growth A Failed Policy?

Tim Duy had one of the better posts I've seen in some time at Seeking Alpha this morning.

I think the biggest potential for policy error lies in maintaining the delusion that preventing housing, and by extension, consumer spending, from adjusting is central to fixing the nation’s economy. Policy would be best focused on supporting the inevitable transition away from debt-supported consumer dependent growth dynamic.

Duy supports his thesis with well reasoned arguments pointing out that we are in for a difficult transition to an economy that will be less dependent on consumer spending. It's a short but powerful article.

Tom Lindmark