Global Economic Crisis

A recent survey done by the GfK poll concluded that the debt is causing them stress. This survey’s 46% participants were stressed and 23% were at high stress levels. But 53% of the people were optimistic and felt no stress.
Thought the U.S. economy is seeing a u turn from the previous year’s condition when there were fewer jobs and bad recession along with shrinking economy, still the moods of the citizens are not being uplifted.
Many people don’t consider this as an improvement since 10% of the population is still unemployed and the pay slips of many employees have seen a reduction in value. Many people are on the verge of foreclosure and only few with a good credit are going to expect to get new loans. The positive side of this stress is that people are paying their debts much faster than any other time. The Federal Reserve reported that the people are cutting their debt at the fastest rate in more than 60 years.
The high repayment rate of debt is at the cost of reduction in customer spending and this again is causing slow growth and inturn is leading to U.S. economic drag, therefore leading to a positive growth.

This entry was posted on Wednesday, September 29th, 2010 at 5:44 am and is filed under Bankruptcy, Global Financial Crisis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.