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"While a contraction of consumer confidence and still-high unemployment remain risks that could temper improvements in yields, the airlines' careful capacity management, if maintained, should be effective in mitigating these risks".
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Meanwhile, the self-feeding spiral of consumer contraction continues as falling retail sales bloat inventories, spur production cuts and depress labor income.
Even though some temporary contraction of demand for consumers' goods of the luxury type may be inevitable, it is argued that cheaper money should lead to increased expenditure on capital goods by industrial corporations, and that official encouragement, backed by the steady propaganda of the "sunshine artist," should quickly produce a renewal of the upward trend of industry as a whole.
"The critical issue we need to address is whether that degree of contraction is enough to breach the fabric of consumer confidence.
Producer prices have been declining for nearly three years and consumer price inflation is mired at its lowest level since 2010.Deflation is rightly feared by central bankers around the world as a most destructive economic force, making debts more expensive in real terms and leading to a vicious cycle of contraction as consumers delay purchases and companies put off investments.
Or does the contraction of credit and pressure on consumers and companies mean that it is much harder for a business to get started?
Surveys of consumer and business confidence suggest the economy is still in a sharp contraction, and hard data are beginning to affirm that view.
Beyond the Dow Jones index, however, the impact of Bernanke's balance sheet expansion has been impotent in the face of economic realities, particularly a collapsing labor market and the contraction in consumer demand.
"This particular downturn is driven by a rare contraction in consumer spending, and that is starting to hurt a broader range of people than those hurt by the mortgage crisis".
If they were forced to do so, there could be a significant contraction in consumer credit".
We wouldn't have seen the calamitous contraction in consumer spending that we're now witnessing.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com