Installment debt is at a record 22 percent of disposable personal income. As production rose, prices fell. Instead of rising, as it usually does when the economy is growing, the inflation rate fell. Despite his gloom, Hoisington holds some hope for the short term. No matter how bad things get, the population continues to grow, companies relocate, and entrepreneurs look for ideas.
Human ingenuity leads the recovery.
But we may still be in for a long, tough haul. Michele Kay covers business issues and trends. All rights reserved. By using Austin360 you accept the terms of our visitor agreement . Registered site users, use this link to edit your personal profile .