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Business Conditions We Can’t Count On

“$2.495 tril­lion, out­stand­ing con­sumer cred­it stands a 97% of its peak of $2.576 tril­lion in August of 2008. Delever­ag­ing, my friends, this is not.”

I read this recently and it is a great reminder of how shaky the current business conditions are. Things have been pretty good but, with consumer debt at these levels, things could change quickly.

From what we’ve seen incomes are up some in recent years, at least in high demand jobs. So that helps. However, one would have hoped that consumers in general would have learned from The Great Recession and that we would have seen some serious deleveraging. I’m not really concerned that we will have another bubble burst, but I do believe there is a big anchor weighing down or economy. This will hold us back for quite some time.

Todd Kmiec
Todd Kmiec and Associates

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