Zeev's Turnips Patch-No Politics (ZEEV)

[mish]

The figure of "merit" is debt service to disposable income and that is far from a record.

ahhh.
But what about increasing layoffs and bankruptcies?
Where are the jobs to support this debt?
Is it getting worse or better?
Also is the debt evenly spread out or is there a lot of consumer debt in the hands of those that do not have the income to pay? I think bankruptcies explains that last question.

I think continued loss of jobs especially high paying jobs to India etc, in return for marginally paying jobs is going to be a huge disater.

I believe I asked this before but did not get an answer.
Where are job increases going to come from?
What kind of jobs will they be?
What happens when GM or F goes on strike. I think those contracts are up this year but perhaps I am wrong.

Given the stall speed this economy is heading into, with a possible double dip coming up, are these debt levels more like a country at the bottom of a recession or at the top? Unfortunately the double dip has not even hit yet. What will that do to the ability to afford this debt?

Lots of questions here Zeev.
Unfortunately I have no answers.
Does anyone?

M