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Subject:  Re: Consumer Debt Doubles in Decade Date:  1/6/2004  8:56 PM
Author:  Lokicious Number:  9159 of 36785

I get lots of SPAM, but the way it's addressed, I'm pretty sure it comes from having had to register with Apple to download software. Definitely not how I'm registered with the Times.

I don't think the doubling of debt mentioned by the Times is inflation adjusted (though they didn't say). Still, this has not been a high inflation period. At some point, a consumer driven economy can't continue with this level of personal debt. And real income for the vast majority of Americans (not averaging using increased incomes of CEOs, etc.) has seen little increase over the last 30 years, most of that during a spurt in the late '90s. Wage competition bodes poorly for increased wages in the future, including for many IT workers.
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