Originally Posted by
skitheline
I would just like to point out some facts here. Auto-loan delinquencies are the highest they've ever been in history, and credit card debt is soaring past 1 trillion dollars with delinquency rates rising rapidly. Do with that information what you will.
Sounds like some cars are going to get repossessed and some people won't be able to spend on their Macy's credit card anymore... I think it's going to take a lot more than that to bring this economy completely to its knees. A recession is certainly possible, in fact, a recession is always coming, but more likely to be a garden variety. Normal recession in my opinion, unless something else changes.