Downsizing of America

Here is a new fact of life: America’s economy is getting a little smaller. This “shrinkage” is likely to be a secular — as opposed to a cyclical — sets of changes.

Out goes the conspicuous consumption of the 1990s and 2000s . . . Lean and green is in; Grotesque and self-indulgent are out. Downsize that McMansion! Replace the SUV with something fuel efficient! Save instead of consume!

This is much more than a philosophical view — its what all of the economic data over the past year has been practically screaming.

In terms of actual data, here is what the new, leaner American economy looks like: THIS