Credit Crunch Coming

I have a feeling that retailers are going to have a slow holiday selling season.


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"Rates are on the rise, and possibly a dramatic rise. Mortgage rates and home equity lines are finally on the inevitable move upward. It is impossible to overstate the potential consequences from interest rate fallout. Consumers are leveraged more than ever in recorded history. This is really bad news for those consumers who have taken advantage of their personal "ATM" machines. Referenced by the free spending from the newfound equity in their homes. This is a nationwide phenomenon that has reached record levels.

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