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  • Consumer Deleveraging and December Retail Sales: What the Numbers Say  [View article]
    yup the john does that lost their jobs and have mortgages and credit cards are toast, they will bail out on taxes, give their homes away to the IRS for collections, the banks will loose those assets taken over by the IRs, more write downs on the banks as loses, and the vicious cycle repeats itself till we are done with delevering. National Debt 3 times the GDP, 70% of GDP dependent on consumer expending, so no expending, no GDP no way to pay debts on time, creditors will start making calls and lots of defaults coming, we are really in deep doodoo.
    Jan 13 09:08 am |Rating: +1 -1
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