The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (14534)	5/26/2004 6:41:16 PM
From: russwinter	of 110194

Here's datapoint that should interest you. From Marshall Auerback, rest of article a bit weak to my view of things, but normally he's good prudentbear.com For several quarters, falling US interest rates have enabled a credit boom to continue unabated. This has masked an increasingly ominous trend in debt service burdens as a percentage of total income. By the end of 2003, US household debt service payments accounted for 13.1 per cent of disposable income, close to the record high of 13.3 per cent recorded in 2001, and considerably higher than the mid-1993 level of 11 per cent. This figure is almost certainly at record highs today, given the recent rise in rates and the corresponding increase in mortgage payments for those who cleverly followed Alan Greenspan’s exhortations to embrace adjustable rate mortgages.

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