Bernstein: US consumer just starting to feel the pinch

Brown Advisory manager Bernstein believes the US consumer is just now beginning to suffer rather than set to bounce back from the credit crisis

The US consumer is just starting to feel the pinch rather than set to bounce back post-credit crisis, according to Brown Advisory's Rick Bernstein. He believes the economic crisis has several acts. "Act one is characterised by huge damage to credit providers and act two concerns the consumer," he added. "People are expecting US consumers to come back to life but we think we are just seeing them starting to pull back. People are cashing in life insurance policies for example, which shows how desperate the situation is." Bernstein is prepared to look for opportunities in consumer cycl...