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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (9852)	3/10/2004 1:24:32 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

Despite a complete lack of job growth, are households continuing to take on additional consumer debt comfortable in the fact that a significant turn in labor markets lies just ahead? Or is household leverage acceleration happening simply to meet basic living expenses for those caught in the unemployment maelstrom? In terms of this being an atypical economic recovery, the current period takes the cake in terms of the relationship between the payroll employment and consumer credit growth." People were able to spend only because of excess stimulus and tax cuts that have worn off. I suppose another round of refinancings can keep it all going for anothr 3-4 months but that is it. It is then lights out. If it is not lights out already. Mish