Soaring debt and massive layoffs cut deep into America's bleeding Middle Class...
I always enjoy reading about Bill's historical comparisons. :)
Having studied the depression at length, I have seen this movie. It is the removal of the group that will not work and replacement by the ones that will. Paul's writing does address this in the Bible. I agree with PG V on most of his comments. But, we may see a preview this winter in Europe. Green is a long way off and oil and gas are here. We are a stiff necked people, we Americans. We learn slow but well.
I'm a little puzzled by Dan's chart...with higher mortgage rates, slowing house sales and lowering house prices, how is the mortgage balance continuing to rise without a deflection downward? Would you expect a dip to start showing up next quarter?