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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Joe S Pack who wrote (39211)10/6/2003 5:26:59 PM
From: Seeker of Truth  Read Replies (2) | Respond to of 74559
 
I'm sure that corporate debt, government debt and personal debt as well as negative balance of payments are all too high in the U.S. But I've read that one of these, the personal debt, may be overestimated because it counts amounts owing on credit cards before the required payment date as real debt. Millions of people regularly have thousands "owing" but they don't pay any interest because they pay in full on the due date. This is the phenomenon of the ever advancing cashless society. The question is, does this distort the figures on consumer debt? If so the disaster may approach more slowly than one might otherwise expect.



To: Joe S Pack who wrote (39211)10/6/2003 6:58:00 PM
From: TobagoJack  Respond to of 74559
 
Nat, <<J6P can monetized house debt via credit card and spend>> ... this is insane, but it will help the financial markets on their way to total cleansing, perhaps even to the point of collapse of monetary system.

Buy gold.

Chugs, Jay



To: Joe S Pack who wrote (39211)10/6/2003 9:19:14 PM
From: elmatador  Respond to of 74559
 
If you buy lettuce do you get extra miles? :-)


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