Weekly discussion of financial markets, economics, politics, and the media.
A member of Wall Street's Digital Underground since 1995
Monday, October 22, 2007
Folks this isn’t the 1970’s
I have said this before, economist have predicted 9 out of the last 2 recessions. Folks this isn’t the 1970’s, interest rates are low and looking to go down and employment remains pretty strong with a low very unemployment rate ,so why would the consumer default on their credit agreements if they are working and interest rates remain low ? The answer is they wont.