It's usually 50 to 60 per cent of GDP. |
One thing we can say about American consumers is they don't need much prodding to head to the malls. |
The long-run solution involves actions that will hurt them in the short term. The prime minister has been talking about some serious radical restructuring, and in doing this you're going to throw people out of work. There will be a further decline in consumer confidence. Things will get really ugly before they get better. They have to bite the bullet and introduce reforms that are necessary. |