Any info as to how much of this $55 trillion is liquid? I guess this number includes home equity and retirement savings. IMO, including home equity makes the number pretty useless.
All Makloda did, he put it into the right perspective which is nothing new to anybody who is actually informed. On the other hand, yours is just emotional dribble. By the way credit card debt is worse(higher) in Britain than in the U.S.
Congratulations! You have now posted 6,203 times of the same old useless drivel. You must be very proud of yourself.
2% is still 2%, not 20%. For the consumer to go under you'll have to pray that unemployment will skyrocket to 8, 9, 10%. I have no idea if it will, but if it does then that's what puts big strain on the consumer and debt markets, not your ridiculous mere existence $1 trillion of credit card debt. As long as unemployment is low by historical standards consumers can service credit card and other forms of debt. You're throwing around numbers and can't put them in context. Typical.
If you think consumers can service credit card debt why does it keep rising year over year. Seems to me people dont have their priorites straight. Throwing around numbers??? I think I told you that $40-$45 trillion was off the top of my head...calm down.....
And how does this help you TRADE? Is this the CATALYST that you use to buy the TWM and DUG yesterday morning for more 2-3.5% losses in a day and a half?
It helps him make judgements about where the overall market is headed. That way, he doesn't have to look at market internals, he can just make an off the cuff decision, and base his trading on that. If he wins he tells himself he is a genious. If his positions are losing, he tells himself to just hold out because his analysis has to be correct, and his thinking will eventually be realized by the dumb market.
I bought those positions today, after I saw the market open down on Thursday morning I stepped aside and waited, well today I made those purchases, bought DUG TWM and SSG. Will be buying more on any rally, others that will be bought are: DXD under $50 FXP under $65 SKF under $90 SRS under $75 Keep thinking there is nothing wrong with the economy, keep thinking oil can keep rising without slowing the economy down, keep think inflation is tame, keep think jobs are plentiful, keep thinking credit card debt wont impact the markets......
The important number is household debt to disposable income. End of 2006 this was at 139% to 163% (depending on whose stats you believe). BY FAR a record. This number is starting to go parabolic. Credit card debt is THE main problem out there not being addressed. If the consumer cannot keep buying like mad, then our economy grows slowly. Period. This has not been a major problem in the past but ratios have never been anywhere near where they are now. It reminds me of the real estate industry just 18 months ago. "Real estate never goes down" was the common wisdom.