I am fully aware of the stress tests, but I have yet to see any evidence that the large banks are suffering any greater with unemployment nearing 10%. Yes it could be that when unemployment hits a higher level we could see greater fallout, but for the moment the evidence supports that the larger banks are stabilized.
Did I say there was no debt NJ5, no, I just said that consumers aren't feeling it as badly as your OP source believes it to be, sure they have pulled back, but if it was really that bad, we'd have seen much greater pullbacks on everything but the bare essentials, instead we see people being smarter shoppers.
The reason I believe that the economy will be in recovery by next year is the economic indicators, seem to indicate that while we are in a recession still, we are nearing the bottom.
Predictions:Sales of Wii Fit will surpass the combined sales of the Grand Theft Auto franchiseLifetime sales of Wii will surpass the combined sales of the entire Playstation family of consoles by 12/31/2015 Wii hardware sales will surpass the total hardware sales of the PS2 by 12/31/2010 Wii will have 50% marketshare or more by the end of 2008 (I was wrong!! It was a little over 48% only)Wii will surpass 45 Million in lifetime sales by the end of 2008 (I was wrong!! Nintendo Financials showed it fell slightly short of 45 million shipped by end of 2008)Wii will surpass 80 Million in lifetime sales by the end of 2009 (I was wrong!! Wii didn't even get to 70 Million)
