Debt, Debt and More Debt

I have little time today for anything in depth, so I am mostly going to provide a few interesting links I have read worthy of a read, in my opinion. Let us start with a post detailing information from some scholarly folks as at University of Chicago, a well respected institute of higher learning. They are talking about debt and make pretty much the unsurprising deduction that people in areas with the most leverage off of homes are doing the worst in this downturn.

http://www.calculatedriskblog.com/2009/05/mew-consumption-and-personal-saving.html

Incomes down! Yep, that spells good news for consumer spending and for GDP, which is two thirds consumer spending. Median income off 3.6% should spell roughly a 1-2% decline in GDP.

http://www.calculatedriskblog.com/2009/09/census-bureau-real-median-household.html

Disclosures: None.