Consumer Led Recessions

Yahoo Finance:  "The consumer slowdown is here and its flashing a recession warning for the economy.  Consumers are finally slowing their spending and experts say that's a warning sign of the economy.  Americans have propped up the economy with a powerful spending spree in the last two years."

Let me translate that last sentence into Kenny Bing lingo:  Americans have propped up the economy with a powerful surge of deficit spending thanks to an easy credit environment that is now coming to an end.  Tighter terms, higher interest rates and increasing defaults on consumer loans, credit cards, auto loans and other consumer finance contracts will lead the economy into a consumer led recession.