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  • How Did Major Retailers Do in August?  [View article]
    Your work is instructive. Several articles about collective debt level have me very concerned:

    1) From Seeking Alpha
    The Great Consumer Crash of 2009
    by: James Quinn posted on: August 14, 2008

    2) From Dr. Marc Faber Market Comment: October 9, 2005
    gloomboomdoom.com
    (Note here that the ONLY time in history when our debt level even approached today is just before the Great Depression. Not a prediction, just an editorial note. But today our debt level is worse. )

    3) from Barrons Feb 11, 2008
    "This Credit Crisis Has a Long Way to Run"
    Interview with Jeremy Grantham, Chief Investment Strategist, GMO
    Barron’s By SANDRA WARD

    The above is a lot of data to take in. The picture, due to grossly excessive credit expansion, is bleak.

    I disagree with your suggestion that consumers will wise up. Some will for sure. But most won't until they are forced. And they will be due to credit restrictions now becoming much tougher. The banks will cut them off.
    Sep 07 10:24 am |Rating: 0 0
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