Barry Ritholz thinks consumers are still over-leveraged:
Two thirds of the economy is dependent upon consumer spending, Oil is
now ~$70 a barrel (gasoline coming up on $3), and the consumer’s
ability to borrow, tap equity, or otherwise live a profligate, unfunded
lifestyle has been radically crimped.
This article available online at:
http://www.theatlantic.com/daily-dish/archive/2009/06/the-sputtering/200738/
