Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (115947)	8/7/2001 7:26:09 PM
From: Jack of All Trades	Respond to of 436258

Exactly...

To: patron_anejo_por_favor who wrote (115947)	8/7/2001 8:52:44 PM
From: Ilaine	Read Replies (1) \| Respond to of 436258

From a theoretical and public policy point of view, what you say is true in a broad and general sense. My problem is trying to drill down in the data to see with certainty what's actually going on. I am trying to find something I read recently that shows that unemployment among white collar workers is around 2%, but for blue collar workers it's around 7%. So the people who are getting squeezed the worst didn't have much discretionary income to begin with. Other than Silly Valley, my guess would be that foreclosures will show up first in homeowners with no equity, HUD guaranteed loans. Kind of LIFO-FIFO.

To: patron_anejo_por_favor who wrote (115947)	8/7/2001 9:11:03 PM
From: Ilaine	Read Replies (6) \| Respond to of 436258

Found the stat - 2.2% unemployment for managerial and professional occupations, 7.2% for operators, fabricators and laborers, 10.9% for agriculture workers. stats.bls.gov So it's unlikely that managers and professionals are going to stop spending, or default on their home mortgages. Very likely that agriculture workers will stop spending and start defaulting. Have you seen statistics for consumer debt broken down by employment category? I haven't. Looks like something will be available August 16: census.gov