Thursday, December 11, 2008

Americans Cutting Down Debt

This is a good thing to see.

The Federal Reserve on Thursday released it latest quarterly look at consumer and business finances showing that households reduced their debt levels by 0.8 percent at an annual rate in the July-September period, the first drop on records that go back more than 50 years.

Perhaps if we had done this BEFORE the recession…

(6) Comments
Posted by Owen at 1756 hrs
Economy

  1. LOL, doing this is helping to cause the recession. Consumers are paying down debt instead of buying stuff. The primary reason the economy has been good in recent years was because they were racking up all that debt.

    Posted by .(JavaScript must be enabled to view this email address) on December 11, 2008 at 1942 hrs


  2. Unfortunately way more than a day late and a few trillion dollars short.

    As far as the economy goes, y’all ain’t seen nothin’ yet!

    Posted by .(JavaScript must be enabled to view this email address) on December 11, 2008 at 2026 hrs


  3. It’s actually preventing rampant inflation.

    Posted by David on December 11, 2008 at 2035 hrs


  4. It’s actually preventing rampant inflation.

    What is “It’s” David?

    Posted by .(JavaScript must be enabled to view this email address) on December 11, 2008 at 2041 hrs


  5. PJR, I meant the paying down of debt, in lieu of buying products & services, especially things like overinflated property.

    Posted by David on December 11, 2008 at 2258 hrs


  6. Spending $100+/mo less for gas hasn’t hurt either.

    Posted by .(JavaScript must be enabled to view this email address) on December 12, 2008 at 1309 hrs


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