Eric S. sent this one: Deadbeat America: Late Payments Soar [1]. It is not reassuring to see that late payment rates are spiking in relatively “good times” with an employment rate that is just starting to falter [2]. Obviously American consumers have collectively gone deep into debt. In the next recession we will undoubtedly see unprecedented delinquency and default rates, followed soon after by a spike in personal bankruptcies. Oh, but wait a minute, US bankruptcy laws have become less lenient [3].
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And Eric also forwarded us this: Americans Sold Out to Foreign Firms at Record Rate [4]
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From The Oil Drum editors: Oil Price Touches $100 a Barrel; Signal of Pending Oil Shortages Ignored [5]
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