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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Box-By-The-Riviera™ who wrote (261135)	9/19/2003 8:31:38 PM
From: ild	Read Replies (1) of 436258

Is Rising Productivity Resulting In Job Losses Or Vice Versa? northerntrust.com Household Borrowing Establishes a New Record September 19, 2003 Households have been on a borrowing spree. In the second quarter of this year, households borrowed at an annual rate of a trillion dollars. Household borrowing as a percentage of disposable personal income hit a new high of 12.4% in the second quarter. This measure of household borrowing reflects mortgage borrowing, credit card borrowing, borrowing from banks and the like. An interesting point to note about the current business cycle is that household borrowing (see chart below) is not only at a record high but a new aspect has emerged – household borrowing advanced during the recession unlike in every other post-war recession when households reduced borrowing. The good news is that consumer demand continues to advance with the support from borrowing. The bad news is that defaults, foreclosures, and personal bankruptcies could rise if employment conditions fail to improve. northerntrust.com

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