Ed Kerschner, chief investment strategist at Citi Global Wealth Management, says the US has passed an “inflection” point, marking the end of an acceptance of conspicuous consumption that he traces back to the Reagan presidency of the early 1980s.Right. Our embrace of conspicuous consumption is Reagan's fault.
I'm sure that they would have preferred to blame George W. Bush--that way, Obama could complain about inheriting the problem--but that would have been a bit of a stretch.
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