Home › Forums › Financial Markets/Economics › JUST REPORTED WAMU cuts/suspends $6 BILLION in HELOCS › Schiff seems to agree that
Schiff seems to agree that this is what’S happening at the consumer level: http://www.europac.net/externalframeset.asp?id=12779
Without HELOC’s and CC’s, consumer spending will be severely reduced. I guess that’s when we’ll see deflationary pressure throughout the economy and not just in housing.
