[Gunslingr3]

When you're servicing debt that is 3 times your income, how much more can you take on? A recession is simply the realignment of production to meet (reduced) demand when people are servicing the debt they accumulated in the boom. You'll have to forgive the prognosticators of the early 90's, they never imagined Alan Greenspan would initiate and perpetuate such a credit orgy...

[Steven W.]

now you're rewriting history - the prognosticators of the past are - by and large - the exact same group of prognosticators today who, by no chance, were the same prognosticators a decade ago, many of whom were as down on Greenspan then as they were before or have been since then. They are more than capable in producing misleading charts & raising the level of hyperbole to new heights but they are 0-for-ever when it comes to realizing the depths of the worst doom and gloom that the prognosticators (Tice, et. al.) can come up with, no matter what camp of bearish foolishness they come from, albeit, in the case of Fischer's analysis, are those focused on debt analysis.

[Steven W.]

PS - the reason that chart is so misleading is that it tracks debt against GDP without the correlation that such ratios will decline significantly along with an economic recovery, exactly as it did after the great depression, which the chart presenter was so fondly trying to establish guilt by association with.

[7DayRepo]

Do you have a similar chart for consumer debt only?