WSJ on wealth

[Carl Remick]

>"A lot of families are still in a fairly precarious financial
>position and an increasingly aggravated financial position," said
>Edward N. Wolff, a professor of economics at New York University. "If
>there's a downturn, people could be in a really tough position due to
>their high level of indebtedness."

To assume the thankless Chicken Little role:  The WSJ ran an ominous chart 
the other day, showing strong similarity between current US stock values and 
those of US equities in 1929 as well as Japanese equities a few years ago at 
their peak.  How would US consumer indebtedness at present compare with that 
of the US in 1929 and of Japanese consumers at Japan's market top?

Carl

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