Sunday, September 19, 2010

Deleveraging or Defaulting?

US consumer debts' lightening
Has been thought to result from belts' tightening,
But those falling exposures
Have tracked loan foreclosures,
Which leads to conclusions more frightening. 

Thanks to Mark Whitehouse of the Wall Street Journal's Real Time Economics for his timely analysis of an uncomfortable truth.

No comments:

Post a Comment

Popular Posts