Replies to post #81807 on Zeev's Turnips Patch-No Politics (ZEEV)

[mainehiker]

larry and zeev on consumer debt...
i tend to agree with mlsoft on that ..i have a business with consumers in all economic spectrums, with most in mid to upper mid class. As ive developed busniess relationships with many of my clients over the years i feel free to discuss the economy with many of them...and where they are "at" with respect to debt.
I can say with some certainly that if my client base represents America, the consumer is tapped out....virtually all those i speak with say they have more debt now than 1,2,3 years ago and hint that paying down their debt is important...and they say that the debt load will diminish their spending...they also mention more and more, stock losses as a factor.

[mlsoft]

Larry...

That is why I said in my post:

"I believe that substantially all of the equity cash that is reasonably available has already been tapped by those consumers that are willing to do so."

A lot of folks, like you and I, are not willing to reduce our equity except in emergency. My point is that most of those who are willing to do so to fund new spending have already done so.

mlsoft

[redwards]

If I was in that situation, I would take the equity out of your non- earning asset while it is inflated, and secure the capital at these low deductible interest rates.