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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (6207)	8/27/2007 9:48:25 PM
From: ecrire	Respond to of 50778

The focus is on the consumer.How badly will his spending habits be impacted. So far,impact seems minimal. I live in the East; no layoffs at major financial firms, real estate prices rising or holding steady, restaurants crowded, so the automatic extrapolation from credit woes to a weakening economy remains suspect.

To: jim_p who wrote (6207)	8/28/2007 2:11:36 AM
From: surelockhomes	Respond to of 50778

A lot of stinky poop is going to surface in the next few months. Heard a couple of sources in the know say that August housing numbers will be down and September's numbers are going to be really bad. And there is a lot of receivables out there that are way over valued. It's not just housing debt either. "Credit-card defaults on rise in US US consumers are defaulting on credit-card payments at a significantly higher rate than last year, raising the prospect of problems in the stricken US subprime mortgage market spreading to other types of consumer debt. Credit-card companies were forced to write off 4.58 per cent of payments as uncollectable in the first half of 2007, almost 30 per cent higher year-on-year. Late payments also rose, and the quarterly payment rate – a measure of cardholders’ willingness and ability to repay their debt – fell for the first time in more than four years."