As we are discussing a soft landing / hard landing scenario let´s take a look at consumers : U.K. Bankruptcies Soar as Loans, Card Debt Top $6,800 a Person http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a1oL1.Wlic80 and Experts Predict Rise in Credit Card Delinquencies, Bankruptcies http://press.arrivenet.com/society/article.php/889662.html Today´s retail sales numbers are telling us a different story, or ?