http://www.canajunfinances.com/2008/09/25/crisis-in-the-us-financial-industry/ Personal Finances and Consumer Concerns, essays, stories, examples and how to articles with a distinctly Canadian Point of View Thu, 18 Mar 2010 16:12:30 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.canajunfinances.com/2008/09/25/crisis-in-the-us-financial-industry/comment-page-1/#comment-3125 A Lap Of The Blogs : WhereDoesAllMyMoneyGo.com Sat, 27 Sep 2008 18:33:52 +0000 http://www.canajunfinances.com/?p=1672#comment-3125 [...] Canadian Personal Finance Blog summarizes his views on the U.S. Financial Crisis. [...] [...] Canadian Personal Finance Blog summarizes his views on the U.S. Financial Crisis. [...]

]]> http://www.canajunfinances.com/2008/09/25/crisis-in-the-us-financial-industry/comment-page-1/#comment-3118 Gene Fri, 26 Sep 2008 15:53:56 +0000 http://www.canajunfinances.com/?p=1672#comment-3118 A podcast I listened to claimed that real wages have been stagnant in the US for a long time: maybe 15 years. To maintain standard of living, consumers have tapped the equity in their homes. With house prices falling, consumers can no longer do that, so something will have to give. Either credit card debt will increase, or people will have to cut back. The alternative is rising wages, but that's not likely when the economy is weak and people are losing jobs. A podcast I listened to claimed that real wages have been stagnant in the US for a long time: maybe 15 years. To maintain standard of living, consumers have tapped the equity in their homes. With house prices falling, consumers can no longer do that, so something will have to give. Either credit card debt will increase, or people will have to cut back. The alternative is rising wages, but that’s not likely when the economy is weak and people are losing jobs.

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