What the delinquencies tell us is that there are more people who are under financial stress. The rise in energy prices is sucking up much more of households' budgets than they ever did.
More Quotes from James Chessen:
It may be many months before its impact is reflected in the delinquency picture.James Chessen
Signs of financial stress still are present. The persistent interest rate increases by the Federal Reserve and record high gas prices in the third quarter provided a one-two punch that continued to inflict pain on personal budgets.
James Chessen
What we're recommending is that people take out as much cash as they would need for a long weekend. And if you're relying on credit cards, request copies of your credit report before and after the century change so you can spot and correct any Y2K errors immediately.
James Chessen
The rise in auto and other consumer loan delinquencies reflects the avalanche of layoffs over the past year and a half. Until job growth gains upward momentum, relatively high levels of delinquencies will remain.
James Chessen
The full financial effect of Katrina is still unknown. It may be many months before its impact is reflected in the delinquency picture and will depend on the success of reconstruction efforts in those regions.
James Chessen
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Based on Topics: Energy Quotes, Finance Quotes, Stress QuotesBased on Keywords: delinquencies
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