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It is rare, I admit, for me to find the silver lining in a given cloud, but I managed to in the recent week. Perhaps I was inspired in this search by the approaching 10th anniversary of the Lehman bankruptcy and the differences and similarities between now and then but I’ll save those thoughts for now. In any event, the silver lining I refer to comes in the form of household debt. The Quarterly Report on Household Debt & Credit from the New York Fed showed a relatively modest rise in overall debt to $13.3 trillion, a gain of $82 billion. I suppose that is the ‘bad’ news if you consider debt a bad thing for households. Read more from David Ader's latest musings...
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