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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: CalculatedRisk	5/9/2005 1:13:52 AM
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Danielle DiMartino: Fallout is likely from excess debt dallasnews.com EXCERPT: Let me summarize. •More Americans than ever are overpaying for their homes. •Thanks to the loosest lending standards ever, they are borrowing more against the homes than ever thought possible. •To add insult to interest rates, households are breaking out the credit cards at triple the rate of two years ago to outfit these overpriced mansions. If excess debt is what leads to depressions, we could indeed be in for some tough times.

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