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

To: smolejv@gmx.net who wrote (45166)	1/24/2004 1:59:33 PM
From: pezz	Read Replies (2) \| Respond to of 74559

<<The average employed J6P earns 520/week times 40 is about 21k,>> I know you are talkin take home pay but with average salary about $20 per hour and 52 weeks inna year your numbers might not be correct.

To: smolejv@gmx.net who wrote (45166)	1/24/2004 4:40:24 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

DJ, we can slice it up some more. Maybe high income people have the mortgages and more of the debt and they can afford a higher proportion of their income as debt repayment because the cost of their food, fuel, movies, clothes, doctor is a small proportion of their income. A high disposable income enables high debt. Any way we slice it, the debt doesn't seem big enough to get excited about. I'm happy to leave borrower and lender to worry about their financial security. It's a free world [in some respects anyway]. There'll no doubt be some gnashing of teeth and wailing when interest rates go back up to somewhere which will reward those who save instead of spending and some depreciation of over-leveraged assets could occur. It has been a miserable three years for savers of money. Mqurice