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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Siddhartha Gautama who wrote (8264)11/26/2001 11:35:28 PM
From: Chris McConnel   of 99280
 
>> i wonder how the ratio of average debt to per capita income compares between the present time and circa 1929.

Something else people aren't considering: the new law that makes much more difficult for folks to get rid of credit card debt by declaring bankruptcy. The people that took on too much debt in the 80s, just declared bankruptcy in 1990-91, were issued new cards and went back to buying things again. That won't happen this time. They are saddled with debt and will have to pay it off.

-Chris
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