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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (244337)6/6/2003 5:31:39 PM
From: ild  Read Replies (1) of 436258
 
Households: Another Quarter Older And Deeper In Debt
June 06, 2003

northerntrust.com

...All of this explains why growth in consumer spending remains tepid. Households remain heavily burdened with debt. Yes, the interest rates on this debt are very low. But the massive amount of debt owed by households is partially offsetting the low-interest-rate effect on consumer spending. In other words, households are keeping their debt-service ratios at elevated levels by “making it up on volume.”
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