[lbo-talk] The Markets and Reality: What, If Anything, Is the Linkage?

Doug Henwood dhenwood at panix.com
Thu Jun 5 11:11:33 PDT 2003


Miles Jackson wrote:


>However, I'm getting $800 for my wanton
>breeding habits, and I'm going to make a healthy payment on my
>bloated line of credit at my credit union. How many other people
>are going to do that, and does personal debt reduction have any
>stimulative economic effect?

No. Personal debt reduction is a big drag!

It seems a lot of people did that with their $300 checks last year - saving or debt reduction (same thing, more or less).

Doug



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