[pbmonster]

> The economy is doing well when the net wealth (not including tax advantaged accounts) of individuals and families is positive and growing in real dollars.

Tricky to account for differences in consumer culture, no? Because the number of people who consume all they earn, no matter how much that is, is not staying equal over time or location.

[Spivak]

I wouldn't account for it at all both because I think it will shake out in the aggregate but also because if people are spending all their money immediately I think it signals low confidence in their future economic situation.