American Consumers: Living on Borrowed Time?

According to an article published by a member of Morgan Stanley’s Global Economic Forum, a renewed slowdown is likely for American consumers, despite the impact of tax rebates.  The article suggests that American consumers are literally living on borrowed time.   In that vein, the larger the initial economic pop from rebates now, the larger will be the payback after the funds are spent (unless energy prices tumble or consumers get additional lines of credit). 

Please click here to read a copy of the entire report.