The rise in borrowing shows just how addicted the U.S. consumer has become to credit. Even as borrowers are cut off in one area, they promptly look for new sources. Workers have increasingly been raiding their 401(k) plans to take out loans over the past year, according to plan administrators and nonprofit groups.
I really think this explains alot of the relative strenght we have been seeing so far. Middle and upper middle income people with a taste for a rich lifestyle have alot more resources to draw down before any NOD or other pain shows up. Maybe I am wrong, but I have a feeling that alot of people are selling out tomorrow for todays gain.
