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Unformatted text preview: not realized their increased discretionary incomes until the re-financing process was completed. Folks that may have had little debt were fearful of loosing their jobs (employment insecurity). Every time you picked up a newspaper you were reading about more layoffs (down sizing) from companies that people normally did not associated with layoffs (down-sizing) from companies that people normally did not associated with layoffs. When you think you might lose your job tomorrow, you do not go out and take on new debt or spend your money without careful consideration. Eventually, the lower rates took hold, consumers made adjustments, and the economy began to turn around during mid-1991; and has continued that expansion to date 35 to date....
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- Fall '10
- Interest Rates