GDP Miss May Be High Point for Economy in 2012: "Falling incomes, reduced savings and higher prices are not pillars on which to build economic recovery.
Throughout the first quarter, consumers heard lots of happy-talk from the media about how the economy was picking up steam. Americans are eternally optimistic about the future and believed much of it. When the dust finally settled though, their incomes had basically stagnated and they'd blown through a lot of savings keeping up with higher prices.
As the hangover sets in, expect a consumer pull-back in the 2nd Quarter. "
'via Blog this'