Posted on 03/19/2014 3:04:35 PM PDT by Red in Blue PA
Let the final destruction begin.
They’ve been saying ‘next fall’, ‘next spring’ for years now. Any one noticing? LOL
For years now, millions are part time if they have jobs, hours cut, pay cut, benefits devoured....Savers?
That’s about it...But it really don’t matter to me anyway...As I’m sure as +*$% not looking for any loans or to pay on any credit...
We got off that slave train years ago.
“Any improvement in the economy will be more than offset by increased interest rates.”
Absolutely; imagine the spike in insolvent households when the following increase: the interest rates on the record credit card debt Americans have ammassed over the past decades trying to preserve their standard of living, and the adjustable rates on mortgages held by people who are “under water” (and therefore unable to transition to a traditional fixed-rate mortgage).
On top of that, home sales will plummet even further. Once people stopped having children due to financial instability, they sure as heck weren’t going to buy a home; this would be the last straw for a housing sector that is already hurting.
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