Mostly: Classical

[loantech]

Amark,
How can John take so many words to say what he does?

<I have written about the all-time highs in personal debt, although much of it is mortgage debt, which is not a bad thing, as more and more renters buy homes.>

I see this as much worse than he does and I have worked in the mortgage business for 20 years. 1. It may be cheaper to rent in a lot of areas. 2. He perceives debt now as no worse than in 1956 which is a joke. Our parents did not have credit cards and big car loans. 3.It also took about a 12-18 months of gross salary income to equal the cost of a home in the 50's. It takes 3-4 years of gross average salary to equal the median cost of a home now days. So things have gotten more expensive for the middle class.

Ol John the optimist (along with Frank) think things can roll along okay with the consumer and the government above their eyeballs in debt. I see too much debt as an anchor around their necks not an instrument to save the day.
tom