It was nice to see some "green" on trading screens today. Maybe market sentiment has changed.
And maybe the days of easy money are over. The Fed has put a damper on real estate speculators and slowed down the homebuilders. Foreclosure rates will be moving up if interest rates stay at current levels. Woe onto those with adjustable mortgages.
Now for the question of the day. It has to do with the American consumer.
Tell me, honestly, how on earth does the average American credit card holder have $8,000 of credit card debt? When, if ever, will our savings rate climb?
We need the consumer to look in the mirror. And stop the madness.
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