Obama's Economic Approval Slips to 35%
"Despite President Barack Obama's renewed focus on the nation's economy this summer, he scores worse with Americans on the economy than he did in June. His approval rating on the issue, now 35%, is down seven percentage points, and his ratings on taxes and the federal budget deficit are each down five points. During the same period, his overall approval rating is down three points."
Confident Consumers Step Up Their Borrowing - WSJ.com
This makes sense now. So there IS releveraging but writedowns make it look like there is still some DEleveraging."Most of the adjustment was due to a decline in the amount of debt tied to outstanding home loans, likely due to lenders' write-offs from foreclosures and recent gains in home prices that helped owners sell."...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.