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To: Iceberg who wrote (624)	7/8/1997 7:07:00 PM
From: Bill Ulrich	of 1894

Hi Ice and Gottfried, earlier in the thread we were discussing credit cards and my abhorrence for the mountain of personal debt that Americans have created for themselves. To play on Ice's comment: <...It would be interesting to know just what the debt service breakdown is across America today relative to credit cards..> Using 'breakdown' in a different sense, the breakdown was just reported by Bloomberg. I could not find an online version so I must <sigh> actually type from the hard copy. <Why do I even bother investing in tech stocks? Doesn't anybody use the stuff?> (8 July 97; Bloomberg) "Visa International said growth in personal bankruptcies rose 18 percent in June, the first slowdown since early 1996. "The credit card association revised its forecasts to reflect more consumers seeking credit counseling and other alternatives to filing for bankruptcy. "San Francisco-based Visa expects 1.325 million people to file for personal bankruptcy this year...that falls below the associtation's original forecast of a 29.1 increase and is less than the 26.6 percent rise in 1995 bankruptcies." <eom> Some comments: They only rose 18%? I wouldn't exactly say this is relief, unless you count that I may pee in fright. And besides this one-time reductionof rise isn't a trend yet - just an instance. Can you believe they were forecasting almost 30% increase. Wish all my stox did that. And credit counseling just means taking a different route out of the mess you're already in, so really, nothing is achieved -- the mess still exists. Like the groundhog that sees his shadow, I'm staying grumpy for at least six more weeks! BTW - GM, have you tried this online dictionary, yet? simplicity.net -MrB

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