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To: Haim R. Branisteanu who wrote (128341)10/9/2001 6:54:42 PM
From: NOW  Read Replies (2) | Respond to of 436258
 
"The problem is that consumers are currently busy with two other tasks that suddenly take precedence over buying: servicing existing debt and saving money. As of first quarter, 14.35% of U.S. households' disposable income was used for debt service, up from 13.51% in 1990, according to Federal Reserve Board statistics. "
Kristen French
But with home refinancing, I agree, the American consumer is AMaZING. On the other hand, hte Japanese consumer also did not have terrorism to think about when shooping for new purchases..
So its a wash...



To: Haim R. Branisteanu who wrote (128341)10/10/2001 3:26:23 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 436258
 
Haim, it could be argued that this cultural difference is what has allowed Japan's bust to remain relatively mild. US consumers have no material savings to fall back on, but they definitely have a huge debt load. so they are less well equipped to survive the bust unscathed than their Japanese counterparts were.


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