No replies to this topic

[market speculator]

Subprime and Prime mortgages are about to take out the consumer. Since housing prices have stabilized and dropped in many areas we'll start seeing less mortgage refinances therefore less paydown in consumer debt. How many commercials have you seen where you can refi your debt for one low monthly payment? Well, you use your equity in your house to pay of the credit card. The only problem with that is the consumer doesn't stop overspending. This is where you've seen personal spending numbers continue to increase. The 13.5B increase 8.5B more than expected in consumer credit is a sign of troubles lurking ahead.