Eric S. sent this one: Deadbeat America: Late Payments Soar. 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. 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.
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And Eric also forwarded us this: Americans Sold Out to Foreign Firms at Record Rate
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From The Oil Drum editors: Oil Price Touches $100 a Barrel; Signal of
Pending
Oil
Shortages
Ignored
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