\u201cThis is going to be a new era of frugality,\u201d\u009d [David] Rosenberg said. \u201cThis isn\u2019t some flashy two- or three-quarter deal. This is a secular change in household attitudes….\u201d\u009d<\/p>\n
The coming decade may, in some ways, remind people of those years during President Dwight D. Eisenhower\u2019s administration, Rosenberg said.<\/p>\n
\u201cLife wasn\u2019t so bad for the Cleavers,\u201d\u009d he said, referring to the family depicted in \u201cLeave It to Beaver,\u201d\u009d the television show that ran from 1957 through 1963. \u201cThey weren\u2019t up to their eyeballs in debt and they weren\u2019t a three-car family with a 5,000-square-foot McMansion.\u201d\u009d<\/p>\n
Behavior by newly ascetic U.S. consumers, whose spending drives more than two-thirds of the economy, will translate into \u201cless return to capital and less-remarkable equity returns,\u201d\u009d said Milton Ezrati, senior economist at Jersey City, New Jersey- based Lord Abbett & Co., which manages $70 billion. \u201cThe whole picture is muted.\u201d\u009d<\/p>\n