Who cares how the US economy is doing?

The answer is EVERYONE. And this is why - the graph tells the story.

Yes, the economies of China and India are booming. But how much do the consumers in those countries spend? Given their relatively low incomes, not as much as you might think. India's consumer spending in 2009 was about US$738billion; China's US$1835billion (for their total population, not per capita!) Australia's total household consumption was US$565billion.

And the Americans? US$10026 billion. Say no more. If they're not spending, we might as well all go home!