Debt-to-income and debt-to-wealth ratios are out of whack, clearly. Consumer spending has hit a wall. Servicing our debt (at all levels) has finally become too much of a burden. Houses can’t be used as ATMs any more, corporate debt is still sky-high, and public debt is ramping up like Google circa 2004. The funding crisis has begun.
http://bit.ly/N6ddq
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