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

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To: bart13 who wrote (81562)	5/8/2007 12:46:01 AM
From: Elroy Jetson	Read Replies (1) of 110194

So even with the greatly increased revolving debt, debt levels are still rising slower than they have in recent years. No big surprise then that retail sales aren't that robust. I think this mantra about declining real estate values not affecting the economy is nonsense. A family in San Diego we follow as a "canary in a coal-mine" has constantly pulled all of their home equity out of their home so they can live on 150% of their income. The Los Angeles Times median home price for their neighborhood has declined 14.4% since this time last year. With no possibility of another Home ATM withdrawal, its no surprise that their Visa card balances are rapidly rising. We know they're in trouble, but they themselves don't know this yet. .

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