Wednesday, July 14, 2010

Impact of the Recession on the US

The recession has added, over the last 2 years or so, some 2.4 million people to the category of people who may not be able to repay any new loans (and possibly some existing loans as well).

The total of such people in the US is now over 43 million people.

That's 25.5% of U.S. consumers!

The figures above have been produced by a credit-score firm, Fair Isaac, according to a report by AP.

So much for the US growth engine returning to full power any time soon - which has implications also for developing countries, specifically export-dependent countries such as China. Sphere: Related Content

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