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The consumers seemed to have learned a lesson because the savings rate was less than 1% before the September crash; today the savings rate is 5%...They do need to start spending.
Congress needs to repeal Gramm-Leach-Bailey Act and bring back the Glass-Steagall Act because we know that commercial banking does not mix well with risky investment banking.
Encouraging news. Too bad some people are so impatient. That's part of the problem that caused all the economic pain, though, isn't it? Consumers must have everything and have it now - convinced they must have the newest car, big house, fanciest cell phones, nicest clothes, pricey shoes. Maybe the American Consumer has learned a thing or two and when the US is back to a sunnier economic outlook it will be based on better and more affordable shopping habits.