Saturday, November 13, 2010

A Fantastic Overview Of What's Happening To America's Love Affair With Deb = Q3 Declines in Consumer Debt, Delinquency Rates, Foreclosures and Bankruptcies

[mEDITate-OR:
not see that we are not only buried in debt
but that has not changed for most of U.S.

That said, these new FED charts are very interesting.
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Debt is declining, but very slowly.
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Credit cards have seen the steepest decline since the recession.
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Account closures are starting to decline, while new opening are flat lining.
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Mortgages are still in decline, auto loans seeing an uptick.
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Credit limits are beginning to head up again.
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While those current with payments is rising slowly, severely bad delinquencies remain high.
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Student loans are seeing a continued rise in delinquencies, a sign the unemployment problem is hitting America's graduates.
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A small uptick in overall delinquencies, but not much since Q2.
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A Fantastic Overview Of What's Happening To America's Love Affair With Debt
http://www.businessinsider.com/federal-reserve-new-york-consumer-debt-q3-2010-11
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Q3 Declines in Consumer Debt, Delinquency Rates, Foreclosures and Bankruptcies
http://www.benzinga.com/10/11/589588/ny-fed-reports-q3-declines-in-consumer-debt-delinquency-rates-foreclosures-and-bankrupt
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Click here for the FULL Fed Report (pdf)
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