http://www.creditwritedowns.com/2009/10/third-quarter-gdp-growth-comes-in-at-3-5.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 http://www.creditwritedowns.com/2009/10/third-quarter-gdp-growth-comes-in-at-3-5.html#comment-57471 Anonymous Thu, 29 Oct 2009 16:09:00 +0000 http://www.creditwritedowns.com/2009/10/third-quarter-gdp-growth-comes-in-at-3-5.html#comment-57471 Ed, if you believe consumers are not deleveraging, how does that square off with the fact that we currently have unsustainable high personal debt levels? These debt levels can only be sustained for so long. In my view, the day of reckoning is here in that available credit is re-callibrating to equilibrium levels (levels that are more sustainable). This re-callibration is forcing consumers to pay down their debt. Banks are no longer lending as recklessly, homes are no longer the forever-appreciating ATM machines they once were. So in my opinion, deleveraging is real and ongoing. I look forward to your post that argues against deleveraging. Keep up the good articles. Thanks Ed, if you believe consumers are not deleveraging, how does that square off with the fact that we currently have unsustainable high personal debt levels? These debt levels can only be sustained for so long. In my view, the day of reckoning is here in that available credit is re-callibrating to equilibrium levels (levels that are more sustainable). This re-callibration is forcing consumers to pay down their debt. Banks are no longer lending as recklessly, homes are no longer the forever-appreciating ATM machines they once were. So in my opinion, deleveraging is real and ongoing. I look forward to your post that argues against deleveraging. Keep up the good articles. Thanks

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