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URL:  https://boards.fool.com/in-the-long-run-its-a-ticking-time-bomb-20106317.aspx

Subject:  Re: Consumer Debt Doubles in Decade Date:  1/6/2004  4:21 PM
Author:  kshimizu Number:  9157 of 36612

``In the long run, it's a ticking time bomb,' Sohn said. ``At some point when you get a sharp setback in the economy or a spike in interest rates, the high debt causes instability."


The continuation of consumer spending, in the face of prolonged and increasing un/under-employment, has been of wonderment and concern to me. I note that friends that have been participating in the re-fi trend have mostly taken cash out to consolidate their credit, only to be rebuilding their credit card balances again.

While people are high-fiving each other on the latest economic news and the resultant effect on the markets. It seems that if the employment opportunities don't open up, that there is a house of cards gaining exposure to the wind.

Mind you that my observations may be skewed since many of these friends are in the IT industries. They seem to continue to leverage themselves in anticipation of that employment niche to expand and pay handsomely again.
While tech will/is no doubt expand(ing) again, my belief is that is an industry that has little hope of having their job exportation to be reversed.


Re: NY Times registration
I went ahead and signed up last year after Loki's assurance that he wasn't getting Spammed as a result. I have yet to get any Viagra alternate or Paris Hilton video offers semt to my Yahoo! address mailbox.
In fact, the only Spam I ever get into my public address mailbox seems to be the PayPal spoofs. Most likely caused by infection of people's PCs that saved that address from the message boards that I participate.
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