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By M. B. McClenaghan

"This paper summarizes diamond exploration techniques used in glaciated terrain, focussing on indicator mineral and geochemical methods applied to glacial sediments. Understanding the ice flow history, depositional history, and stratigraphy of glacial sediments is essential to successful sampling, interpretation and follow-up of indicator mineral and geochemical anomalies related to kimberlites. Kimberlite indicator minerals survive glacial transport over long distances and the relative abundance of each mineral in till is a function of the primary mineralogy of individual kimberlites. Indicator mineral distributions observed at a regional scale define the net effect of glacial dispersal, often along different ice flow directions. Local-scale distributions define individual dispersal trains. The medium sand (0.25 mm to 0.5 mm) fraction of heavy mineral concentrates, * GSC Contribution No. 2002028 prepared from glacial sediment samples, is best suited for indicator mineral surveys. The application of till geochemistry to diamond exploration is increasing because it is significantly cheaper than indicator mineral analysis and it can be performed quickly. The <0.063 mm (silt+clay) and 0.5 mm to 2.0 mm (coarse sand) fractions provide the best geochemical contrast between background and kimberlite-rich till. Kimberlite pathfinder elements that provide good contrast include Ni, Cr, Ba, Co, Sr, Rb, Nb, Mg, Ta, Ca, Fe, K, Ti and LREE, the relative importance of which will depend on kimberlite composition and that of the surrounding bedrock.IntroductionIn Canada, glacial erosion is the principal means by which kimberlite and its associated minerals have been dispersed, from a few tens of metres to tens of kilometres down-ice. Post-glacial weathering has had little impact on kimberlite debris in the glacial sediments, thus boulder tracing, indicator mineral methods and trace element geochemistry of the fine fraction of till (“drift prospecting” methods) can be used to detect kimberlite dispersal within areas covered by glacial sediment. This paper provides a summary of drift prospecting methods for kimberlite exploration in glaciated terrain, and includes examples of reconnaissance- , regional- and local-scale kimberlite indicator mineral and till geochemical distribution patterns.Weathered kimberlite is more susceptible to glacial erosion than the surrounding bedrock, thus many kimberlites in glaciated terrain are found in low or swampy ground, under small lakes, or covered by thin (< 1 m) to thick (>50 m) glacial sediments. Glacial erosion has removed varying amounts of the pre-glacially weathered kimberlite and, in some cases, the hard competent kimberlite below. For example, glacial erosion of the Peddie, McLean and Seed kimberlites near Lake Timiskaming, Ontario, removed pre-glacially weathered kimberlite, leaving a polished striated subcropping surface (McClenaghan et al., 1999a). In contrast, glacial erosion of the B30 kimberlite, near Kirkland Lake, Ontario (Fig.1), was much less vigorous and left a >10 m cap of soft and highly weathered dark green clay-rich kimberlite (McClenaghan et al., 1996). The thickness of remaining pre-glacially weathered kimberlite will influence the geophysical signature of the kimberlite."

Jan 1, 2002

By Don Langlois, Udo Weber

"The effect of grinding media performance on milling and operational behaviour was demonstrated under different selected milling conditions of calcium carbonate. A variety of grinding media material and bead sizes, along with 2 different stirrer tip speeds, were used in the grinding process to generate a particle size reduction of the calcium carbonate (CaCO3). To determine the optimum milling parameters the collected test data was used to calculate and evaluate specific energy as well as stress intensity under different milling conditions.INTRODUCTIONAs a result of increasing energy costs and raw material prices it is important to look at the efficiency of the manufacturing process. Wet grinding and ultrafine wet grinding in stirred media mills are now a possible cost-effective production step for the processing of industrial minerals and precious metals. The generation of smaller particle sizes (down to micrometer scale) can be advantageous for further production steps – i.e. better liberation of precious metals or improved industrial mineral qualities.In the following, the wet grinding process is investigated under different milling conditions of calcium carbonate. Different grinding media materials varying in specific weight, bead size and stirrer tip speeds are used to determine optimal energy consumption for the milling process.DESCRIPTION OF TEST CONDITIONS AND PARAMETERSMill ParametersTests were performed in a Drais Laboratory Perl Mill PML H/V with an installed electrical motor power of 3 kW. The mill chamber is silicon carbide where as the stirrer and discs are made of yttria stabilised zirconia. The mill working volume is 0.9 l. A screen cartridge with a screen size of 0.2 mm is used to separate the beads and slurry at the outlet of the mill. All tests were performed with a grinding media filling grade of 80% (Mill working volume). The stirrer tip speed was set at 6 m/s and 10 m/s."

Jan 1, 2009

By P. H. Oliver

"The current theory of how explosives fracture rock offers no explanation for the improvements in fragmentation and the reduction of fly rock and back break which occurs when an adequate inter-row delay time is used. Nor does it explain why fragmentation improves with rectangular drill patterns where the hole spacing may be as much as four times the hole burden.A new theory of rock fragmentation is proposed which builds on the existing theory. It offers rational explanations for the many blast effects which the current theory does not address and the need for adequate timing delays between rows. It improves on the design of inter-row delay timing by defining the length of free-blasted face needed in front of a hole *Retired from Inco Ltd., Sudbury, Ontario when selecting the delay element which will provide an adequate inter-row delay time."

Jan 1, 2003

By P. H. Oliver

The current theory of how explosives fracture rock offers no explanation for the improvements in fragmentation and the reduction of fly rock and back break which occurs when an adequate inter-row delay time is used. Nor does it explain why fragmentation improves with rectangular drill patterns where the hole spacing may be as much as four times the hole burden. A new theory of rock fragmentation is proposed which builds on the existing theory. It offers rational explanations for the many blast effects which the current theory does not address and the need for adequate timing delays between rows. It improves on the design of inter-row delay timing by defining the length of free-blasted face needed in front of a hole when selecting the delay element which will provide an adequate inter-row delay time.

May 1, 2003

By Daniel Hodouin, Claude Bazin, René del Villar

"A traditional linkage has long been established at Laval University's Department of Mining & Metallurgy between the Mineral Process (MP) and the Mining Exploitation (Min) on one hand, and between the Extractive Metallurgy (EM) and the Materials Engineering (Mat) on the other. This academic separation of Mineral Processing from Extractive Metallurgy at the educational level has become increasingly at odds with today's industrial practice in which both disciplines are not only complementary but also often intertwined. For instance, in gold ore processing, comminution, flotation, and gravity separation units are interfaced with atmospheric or pressure leaching modules and with carbon adsorption and electrowinning units. The new copper plants in South America combine comminution and flotation circuits with heap leaching, solvent extraction and electrowinning processes.In order to reflect this new industrial reality and to harmonise the options offered in both its engineering programs, the Department of Mining and Metallurgy of Laval University has introduced major changes in its curriculum in 1996. These changes reflect also the recognition that the somewhat secondary status given so far to Mineral Processing and to Extractive Metallurgy within their ""mother"" programs, Mining/Mineral Engineering and Materials metallurgical Engineering respectively, was in sharp contrast with their actual significance for the Canadian economy. Leading industrial voices have raised similar concerns and the Canadian Engineering Accreditation Board has also addressed this problem in its latest program evaluation.The changes implemented at Laval aimed at a) better representing MP and EM within the two undergraduate programs; b) training top-level versatile and multidisciplinary engineers, fluent in all aspects of MP and EM, irrespectively of which of the two ((mother)) programs they had chosen and capable of meeting today's industrial requirements; c) training students in process analysis, optimisation and automatic control using state-of-the-art software, and d) taking into account the co-operative nature of both undergraduate programs.Results are very encouraging in terms of student enrolment and industrial response. However, some concern is expressed on the sustainability of the renewed curriculum considering the drastic budget restrictions in effect at Laval as in most other Canadian universities."

Jan 1, 1999

By R. E. Jones

"Crusher sizing and application in mining operations is the selection of a crusher or a series of crushers to reduce run of mine ore to a size suitable for either autogenous or conventional grinding. It is important that the crusher or crushers be sized to operate within the range to which they have been designed. By the range to which they have been designed, we mean that the reduction ration must be held between specified limits. Reduction ration is the relationship between feed size to product size.In todays plants reduction is usually accomplished in three stages by primary, secondary and tertiary crushers.Primary crushers are either jaw or gyratory and are designed to handle run of mine feed at an open side setting of 5-1/2” to 7”. Reduction ration should not exceed 7 to 1.Jaw CrushersThe model size of a jaw crusher signifies the feed opening. A model 60 x48 jaw has a feed opening 60” wide by 48” long. The 48” is the dimension between the top of the swing jaw and the top of the stationary jaw. The 60” is the width between the two side frames. The crusher open side setting is the discharge opening at the bottom of the crushing chamber with the jaws in an open position. When corrugated jaw plates are used, the open side setting is measured from tip of one jaw plate to the valley of the opposite jaw plate. If a jaw crusher has a 6” open side setting with a 1” jaw motion, you could also say it has a 5” closed side setting."

Jan 1, 1974

By B. K. Gorain, A. W. Stradling

"The traditional metallurgical scale-up techniques for flotation plants are based on lumped flotation rate constants, dimensionless hydrodynamic numbers and the use of safety factors. Once the plant has been designed, the flotation principles that govern scale-up play almost no role in the optimization of the circuit to meet its metallurgical targets. This deficiency can potentially lead to a plant design incapable of meeting its targets, especially when circuits incorporate large flotation cells. This paper demonstrates the application of the k = PSbRf model in providing a suitable framework for flotation modelling, scale-up and circuit optimization, thus presenting an integrated approach to the problem. Studies were conducted at Teck Cominco’s Red Dog concentrator to characterize cell hydrodynamics, gas dispersion properties, froth flow behaviour, entrainment and ore floatability to obtain the key data necessary to develop a model for the flotation circuit. The findings of these studies are presented in this paper, which provide valuable insights into the modelling and optimization of the Red Dog flotation circuit. IntroductionThe traditional methodology for flotation scale-up and plant design is based on the ruleof- thumb with safety factors and dimensionless hydrodynamic group similitude considerations. With the recent trend toward larger flotation cells with volumes of 150 m3 and greater in concentrators, the problem of scale-up has become even more acute. The scale-up factors that may have been tolerated on smaller cells are not applicable to larger cells. The transportation of froth in these large cells adds further complexity to the problem. Arbiter et al. (1980) foresaw this problem and pointed out that if scale-up were attempted by rule-ofthumb and trial-and-error, the probability of failure would then increase with scale. This problem is confounded by the fact that the design and scale-up considerations used for a new flotation circuit play almost no role in optimization of the circuit to meet its metallurgical target. This results in a plant design, which may be incapable of meeting its metallurgical targets. There have been several instances where new concentrators have required significant circuit modifications and additional capacity to achieve design targets."

Jan 1, 2003

By A. Demirci, A. Keçeciler, Y. S. Durutürk

"This paper deals with the results of the variation of thermal conductivity of rocks with pressure on a laboratory scale. For this purpose, the authors have added a pressure-supplying unit to the apparatus developed by Mousset-Jones and McPherson (1986), Önder (1995), Ashworth and Ashworth (1979), and Innaurato and Occella (1989) in order to measure the thermal conductivity under pressure. The values obtained from the tests performed by this new apparatus have been stated using a regression analysis and the related graphs have been drawn. Results have shown that the thermal conductivity of rock varies digressively with pressure. The same results have been obtained in different rocks types. IntroductionOne of the most important tasks of mining engineers is that of establishing, maintaining and sustaining safe and healthy working conditions in underground mines.Heat can have a profound effect on safe and healthy working conditions and is one of the main problems in deep underground mines. In this regard, the temperature of the air passing through the mine openings increases steadily and causes a decrease in the efficiency of workers due to the unwanted physical effects to human bodies in the working area. At the same time, the hot and humid environment resulting from heat and temperature rise causes some important occupational diseases and increases the accident risks in the related openings."

Jan 1, 2002

By Camilo I. Morales

At present, many open pit mines are designed to operate and feed a processing plant with ore characteristics that were defined in the design of the mining business, which are not necessarily the same as those found during the operation. This is the case of Spence Mine, whose design was conceived considering the extraction of primary iron sulphides, however, with the extraction of such minerals, it was necessary to mine and process minerals with secondary enrichment. Then it is necessary to work with a greater selectivity degree in the operation, however the capacities of the mine and operational resources were not designed for this. Thus, the changes in the general conditions of the operation should be considered as a series of geometallurgical restrictions to achieve production schedules. The above facts impacts directly in the short-term planning, whose task is to achieve the goals proposed in productive long-term planning because the company does not have the tools necessary to plan with the degree of selectivity required, so it should be done by hand, discretizating and scheduling the production polygons. Naturally, this manual process in the short term planning deviate sharply from the areas in operation, opening new fronts and benches that result in a significant increase in costs and a loss of the value of the mineral resource to miss the exploitation sequence. The research presented in this paper is related to the development of a mathematical programming model to support the short-term planning, so as to integrate the challenge of selective mining with geometallurgy restrictions, to provide the planner a guide to construction of the polygon of exploitation, guiding the fines production to achieve the goals of the proposed production plan.

Oct 1, 2009

By Ian Bruce

Tailings and water management facilities are essential and integral components of mine and mill operations. They must be managed for the long term in order to ensure that safe and environmentally responsible stewardship is achieved. Toward this end, in 1998, The Mining Association of Canada (MAC) published A Guide to the Management of Tailings Facilities, which recommended the implementation of a tailings management framework (Figure 1) to integrate environmental and safety considerations into each stage of the life cycle of a tailings facility, from initial site selection and design, through construction and operation, to eventual decommissioning and closure. By February 2000 it was becoming apparent that while mining companies were making significant progress toward implementing and documenting tailings management systems, and integrating them with overall environmental management systems, further effort was warranted in their application at the operational level. In particular, a need was identified for further guidance in preparing manuals that outline procedures for the safe operation, maintenance and surveillance (OMS) of tailings and water management facilities.

May 1, 2002

By D. Paul Bishop, Kevin P. Plucknett, Hung-wei Liu

"Spark plasma sintering (SPS) process has been evaluated for producing the commercially pure (CP) Ti, TiAl and a TiAl-B4C composite. Comparisons were made between the materials in terms of the sintered density, resultant hardness and microstructures. In the present work, the titanium aluminide powders (Ti-48Al, producing a mixture of y-TiAl/a2-Ti3Al) were synthesised „in-house? using a simple reaction-sintering and mechanical attrition approach. This allowed various size distributions to be generated. The powders were then blended with a fine boron carbide (B4C) powder (up to 6 wt.%), and the resulting mixtures were consolidated using spark plasma sintering (SPS) under vacuum in graphite dies. An applied stress of 50 MPa was used for all SPS runs. The SPS parameters were varied in terms of the ultimate sintering temperature (up to 1300°C) and hold time (up to 10 minutes) for each material. It is demonstrated that high densities can be achieved this approach (exceeding 95% of theoretical, with optimised samples close to full density). Microstructural characterisation was conducted using optical microscopy, scanning electron microscopy, and X-ray diffraction. The B4C additions were seen to partially react with the TiAl to form reinforcements, such as TiCx and TiBx. Preliminary mechanical property assessment will also be briefly discussed.INTRODUCTION Titanium- and titanium aluminide-based alloys possess many unique properties, such as excellent corrosion resistance and high temperature strength, respectively (Cardarelli, 2001; Leyens & Peters, 2003). Compared to many other competing materials (e.g. stainless steel or Ni-based alloys), Ti- and TiAl-based alloys also have relatively low densities (~4.5 and ~3.9-4.1 g/cm3, respectively), which is critical for performance in aviation and automobile applications. However, the manufacturing cost is high, due to the expensive raw Ti material and difficulties in machining. TiAl-based alloys are particularly difficult to produce because of their limited ductility (Lütjering & Williams, 2007). To overcome those problems, powder metallurgy (PM) technologies have shown great potential as near-net shape processes for Ti- and TiAl-based alloys. The general PM process largely avoids laborious post-machining and minimises material use. In industrial production, the PM approach has been successfully utilised to manufacture aluminium- and iron-based alloys (Huo & Heath, 2008)."

Jan 1, 2017

By Johnna Muinonen

"The Thompson Mill processes ores from the Thompson and Birchtree Mines. While the Thompson ore has very little magnesium containing gangue, the Birchtree orebody consists of veins of massive sulphide in a rock matrix that contains a high proportion of magnesium silicate minerals. A significant fraction of the magnesium is floatable, which lead to MgO levels varying from 3-11 wt% in the Birchtree concentrate. The magnesium in the concentrate causes a higher operating temperature in the smelter, reducing furnace life.Birchtree ore represented 20-30% of the mill ore receipts prior to October 2003. Since then the fraction of Birchtree ore has increased to 50%. A reduction of the MgO in concentrate to less than 3% in the total mill concentrate was required to allow safe and economic smelter operation.In October of 2002 a miniplant was set up to simulate the Birchtree plant circuit. Several flow sheet modifications were tested that led to a proposal for a circuit having increased cleaning capacity for the scavenger concentrate and a recleaner on this concentrate. Addition of CMC in rougher cleaner feed was also found to be required. The solution was confirmed through pilot plant testing in the mill in December of 2002. A full-scale installation was designed, engineered, and installed between February and September of 2003 with commissioning in September and October of 2003. Target metallurgy was achieved one week after start-up on slurry to coincide with the Birchtree Mine tonnage increase. This paper highlights the development, design and commissioning stages of the project.The new MgO rejection circuit has successfully allowed the processing of Birchtree ores producing concentrate consistently below 3% MgO. In addition, the new circuit increased overall nickel recovery in the mill.INTRODUCTIONThe Thompson Nickel Belt located approximately 700km north of Winnipeg was discovered in the early 1950’s. Inco first produced nickel from the area in 1960. Over the years the mill has processed several ores from different ore bodies in the area. Currently the Thompson Mill processes two significantly different ores from two mines, Thompson and Birchtree. The Thompson ore is a massive sulphide orebody hosted in schist, containing feldspars, quartz and biotite. Thompson Ore is characterized by high nickel recoveries and clean, low MgO containing concentrates (<2.5% MgO). The Birchtree ore is ultramafic and contains a high percentage of Mg-silicates such as serpentine, chlorite, biotite, amphiboles and talc. Some of these Mg-silicates report to the nickel concentrate and prior to commissioning of the MgO rejection circuit the Birchtree nickel concentrate typically contained 5-8% MgO"

Jan 1, 2006

"This paper describes some of the methods and equipment used for fine milling of minerals, and gives particular attention to the Vibro Energy system.In addition, the paper describes a specific application in the gold mining industry. This is the 200 tpd plant built by Anglo American Corporation at the President Brand Mine in South Africa in 1985, now a division of Freegold. This plant treats a gold bearing pyrite flotation concentrate which is finely ground to 15 microns prior to cyanidation and carbon-in-pulp (CIP). l .0 INTRODUCTIONFree milling gold ores are those that yield acceptable dissolution and recovery of the gold following grinding to what can be described as normal fineness, frequently between 50% and 90% passing 74 microns.Increasingly, gold metallurgists are faced with ores that are refractory. The traditiona1 treatment route for refractory gal d ores and concentrates has been by roasting, but for environmental reasons this is becoming less acceptable, or in some areas of the world, totally unacceptable. New methods of treating refractory gold ores are being developed and applied in practice. These new methods include pressure and biological oxidation. Higher gold liberation can also be attained by increasing the fineness of grind, although with conventional systems there are economic limits to this.In flowsheet development and test programs on new deposits, a standard procedure is to establish the relationship between the grind and subsequent go 1 d extraction. The normal situation is that gold extraction increases as the ore, or concentrate, is ground finer. Typically, this relationship is as shown in Fig. l, where the incremental additional extraction is very small once an optimum, or economic, grind has been achieved. This generally app1ies whether the material is free milling or refractory. The limits to grinding are set by the type of equipment which is commonly in use, usually ball mills. These mills have the obvious advantage of high capacity, however, they are increasingly inefficient as finer grinds are required. In general, ball mills are used to reduce ore to some agreed percentage passing 74, or possibly 53 microns."

Jan 1, 1988

By T. G. Joseph

Mines must manage variability from within their operations as well as those imposed upon them by external forces. This paper provides a framework to manage both internal and external variability through the review and adjustment of the mine plan where applicable to minimize lost production and maintain operational safety.

Nov 1, 2011

"Placer Dome Inc.'s Dome Mine is located in South Porcupine, Ontario and has been in production since 1910. In the past, the mill leach circuit was preceded by preaeration and primary filtration circuits. These circuits were operated to overcome the effects of pyrrhotite in the ore which reacts with cyanide to form cyanates and thiocyanates and also consumes oxygen.In early 1989, primary filters were by-passed for an extended period. Actual plant results showed no affect on gold recovery or cyanide consumption so the circuit was left off-line permanently with significant cost savings.In 1990 it was determined that considerable savings could be realized underground if backfill storage facilities were located in the mill. It was decided to convert the preaeration pachucas to backfill storage tanks on a trial basis. The trial proved successful with no effect on recovery or significant increase in reagent consumption occurring due to the elimination of the preaeration circuit. The converted pachucas worked well as backfill storage tanks.Modifications such as these have helped to keep the Dome's millings costs among the lowest of Canadian gold producers."

Jan 1, 1992

By J. A. Relf

The construction of refineries and gas conservation plants in the general Edmonton area in the early 1950's made available large quantities of by-product liquified petroleum gases (LPG). These gases, together with discovery of increasing reserves of natural gas in the Edmonton area, provided Canadian Chemical Company with two of the necessities for petrochemical production, namely, available and reasonably priced raw materials and fuel. This paper outlines the development of the $83 million Edmonton plant from its origin, together with a brief description of the processes and some of the interesting features involved. Several economic aspects of the petrochemical industry are high-lighted including its importance to the local community and the province. The paper reviews the relationship between the oil and gas industry and petrochemical manufacturing and indicates some of the factors that may affect the future growth of the petro-chemical industry in Wes tern Canada.

Jan 1, 1962

By S. Banisi, M. Poorkani

The Sarcheshmeh copper deposit contains 1 billion tones of ore averaging 0.7% copper and 0.025% molybdenum. It is located southeast of Iran and currently processes 41,000t/d. Molybdenite as a by-product is recovered in two separate stages. First, a bulk coppermolybdenum concentrate is produced and in the second stage these two are separated. The recovery of molybdenite in the first and second stages is 65% and 85-90%, respectively. The yearly production of molybdenite concentrate varies between 3500 and 4000 t. Sodium sulphide is used as the depressant of the copper and iron bearing minerals which due to a rather high consumption (17.7 kg/t) constitutes one of the major cost items of the plant (i.e., 58% of total reagents cost). A detailed laboratory scale study showed that replacing air with nitrogen could reduce the consumption of sodium sulphide (i.e., H2S or mineral origin). Nitrogen for the plant was supplied from an oxygen plant used for the smelter through a 1400 m long pipeline. The existence of the oxygen plant at the Sarcheshmeh complex was a key factor in the implementation and success of this project. After using nitrogen in the plant for a period of twenty one months, the consumption of sodium sulphide was reduced from 17.7 to 14.2 kg/t at constant metallurgy. The reduction was lower than expected which was mainly due to the type of sodium sulphide used and the lack of any automatic instrument to control the depressant (sodium sulphide) dosage. The latter in turn caused the operators to overuse sodium sulphide in order to reach and maintain the target metallurgy (i.e., higher molybdenite recovery along with lower copper content of the concentrate).

Jan 1, 2005

By Glenn K. Nolan

"Today, more than any other time in recent history, aboriginal communities are looking for ways to be understood as more resource development companies continue to explore and develop Canada's vast resource potential.Recent Supreme Court rulings have affirmed the need to engage aboriginal communities early on in resource development projects. There are many conflicting ideas on how, who, and when to engage. Given the large number of communities and varied cultures, each resource development company must equip itself with a better understanding of the people they are planning to work with.The lecture will begin with a basic historical perspective on treaties and the various societies across Canada. We will also explore the current situation many communities find themselves in today. Building a meaningful relationship with a community is the foundation for a lasting partnership. Every community is unique and every approach to engage communities must be just as unique. The lecture will outline some basic steps that can lead to a better relationship building process between the communities and companies."

Jan 1, 2008

By P. A. Selvadurai

This paper presents the results of a research investigation leading to the development of a technique for the measurement of the surface permeability of Indiana Limestone. The tests are conducted on a cuboidal block of the limestone with a flat surface that can be sealed to create a circular aperture through which water influx can take place. Computational results for Darcy flow are used to interpret the results of the experiments. The water entry area can be moved over the surface area of the block to investigate, quite conveniently, the distribution of permeability across the surface of the limestone block sample.

May 1, 2009

By Elizabeth Wademan

Recessions Eventually End ??Companies aggressively cutting production and inventories ??these will come in-line with demand ??U.S. home inventories are declining ??Housing becoming more affordable ??Global trade recovering after collapsing ??Lower oil prices should act as a stimulus Protracted Deleveraging Process Beginning ??Era of leverage-driven consumption is over ??Greatest destruction of consumer wealth since WWII ??Consumers will no longer be able to substitute capital gains for savings ??Shift towards savings will be a headwind to economic growth ???Paradox of Thrift?

May 1, 2009