Jul 03
The US economy is in far worse shape than many in the US think, and is heading for a hard landing. American consumers, who account for 70% of demand and consumption in the huge, $US14.4 trillion economy, are in trouble and cutting back spending, thanks to falling levels of credit. In fact the credit cuts are now much deeper than anyone thought after the release of up to date figures. The IMF said overnight that the US appeared to be sinking into a recession, it said. The Fund said in
