First Into Recession, California Shows Possible Future for U.S.

[Anonymous_IHB]

First Into Recession, California Shows Possible Future for U.S.

http://online.wsj.com/article/SB122350900347317291.html



California's consumers are among the country's most indebted. For every dollar they take home, Californians spend about 19 cents on mortgages, cars, credit cards and other debt payment, compared with about 15 cents nationally, according to Equifax and Moody's Economy.com.

 

[CalGal_IHB]

[quote author="Anonymous" date=1223546038]First Into Recession, California Shows Possible Future for U.S.

http://online.wsj.com/article/SB122350900347317291.html



California's consumers are among the country's most indebted. For every dollar they take home, Californians spend about 19 cents on mortgages, cars, credit cards and other debt payment, compared with about 15 cents nationally, according to Equifax and Moody's Economy.com.</blockquote>
I think they have their numbers wrong. I think most consumers spend $1.19 for every dollar they take home.

That's how we got into this mess in the first place. %-P

 

[WestparkRenter_IHB]

[quote author="CalGal" date=1223546303][quote author="Anonymous" date=1223546038]First Into Recession, California Shows Possible Future for U.S.

http://online.wsj.com/article/SB122350900347317291.html



California's consumers are among the country's most indebted. For every dollar they take home, Californians spend about 19 cents on mortgages, cars, credit cards and other debt payment, compared with about 15 cents nationally, according to Equifax and Moody's Economy.com.</blockquote>
I think they have their numbers wrong. I think most consumers spend $1.19 for every dollar they take home.

That's how we got into this mess in the first place. %-P</blockquote>


And here is more bad news. Credit cards problem.



<a href="http://www.nytimes.com/2008/10/29/business/29credit.html?_r=1&hp;&oref;=slogin">http://www.nytimes.com/2008/10/29/business/29credit.html?_r=1&hp;&oref;=slogin</a>