One of the problems plaguing the economy right now is subprime debt. This includes subprime credit card debt (that is so hard to get rid of), and subprime mortgage debt. Indeed, some think that subrpime mortgage debt is a large part of the economic problems that are likely to continue.
The fact that subrpime debt -- all debt for that matter -- is so high is contributing to the stagflation that seems insurmountable by Fed rate cuts and other measures that are supposed to be economically stimulating. And as stagflation becomes a reality, the chances of seeing a US recession increase.
» Obama Is Going To Save Us...Or Will He? from LeaderNotes
With a sagging economy, a sad housing market and stagflation on the rise, Obama’s promises of getting the country back on sound footing sounds more and more hopeful with each passing day. For a country of people who are desperate... [Read More]
Tracked on: April 13, 2008 12:53 PM | Permalink to Trackback