Hey Nick, did you channel Rich G and become a predictor of the world ending? Lighten up dude. "1/3 of households are spending less?" Does that mean the other 2/3 are spending more? Spending less? My clients are pulling money out of their investments at an all-time high rate and for what? Fun baby. Got to go to Egypt and ride camels or to Ireland to drink Guinness for the weekend. They look for ways to spend their money.

When kids in my community turn 16 they don't take the bus to school, because mommy and daddy buy them new Infiniti's or Mercedes.
There might be an adjustment with the economy, but it will rally again, like it always does.

It might be good for all of us to be inconvenienced financially for a while to know the true value of hard work, earning something and paying for it yourself.