“Smart Trade Group” – TraderChat – (Devil’s In The Retail)…

PRLog (Press Release) – Jun 28, 2009 – “Smart Trade Group”, the Asian-based investment broker, continues to stand by its assertion that the recession-ridden economies of Western nations are nowhere near staging a sustained and meaningful recovery.  
A source close to “Smart Trade Group” cited the US and UK economies as prime examples of the perils of relying upon consumer consumption for economic growth. 70% of the US GDP depends on people spending money and, he continued, for much of the last decade, most of this has been funded by credit.
“Smart Trade Group” believes that the US and UK consumers are effectively “tapped out” on credit and with unemployment rising, they are convinced that the average consumer is in no position to begin ramping his or her exposure to credit. . . . even if it were as widely available as mainstream commentary would have us believe.
When questioned as to whether a manufacturing and export-based economy like that of China was faring any better, the “Smart Trade Group” source suggested that as the Chinese consumer had little or no debt it was difficult to make comparisons but he added that if the Western economies had relied more upon manufacturing and exports, then the measures taken to stem the progress of the recession would not stand to plunge their nations into crippling debt that future generations would be called upon to service.