Word: defaulters
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Dates: during 1990-1999
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Even so, the sheer size of the consumer debt burden remains a threat to the health of the economy. "The whole idea of stretching out debt maturities to provide a soft landing is a snare and a delusion," contends economist A. Gary Shilling. "When you go into default, the total size of the debt is all that matters...
...fastest route to default is unemployment, which is on the rise. The U.S. jobless rate has increased from 5.2% in June to 5.7% in October; in those five months the country has lost 336,000 jobs. One of the causes has been corporate debt, which has forced many companies to take drastic cost-cutting steps. While it may be beneficial for U.S. consumers to prepare for hard times by saving more and spending prudently, an overreaction would be dangerous, since consumer spending accounts for roughly two-thirds of the U.S. gross national product...
...must choose one of the new systems or by default you will be enrolled in a 9 am Organic Chemistry section meeting in Van Serg...
...already are rich, keep your eye on general-obligation municipal bonds (GOs). They're tax-free and, being "general obligations" of a state, city or county, they are highly unlikely to default. It may be too early to buy them -- the level of interest rates may rise, and the financial woes of cities and states are not yet banner headlines -- but if the top federal income tax bracket is raised, they will become more valuable. Just remember that the high cost of trading municipal bonds means they should be bought and held...
...business student knows that bad loans come in waves. The largest U.S. guarantor of student loans is learning that lesson the hard way. The Higher Education Assistance Foundation, a nonprofit group that has guaranteed $9.6 billion in student debt, acknowledged last week that a rising tide of defaults is threatening to push the agency into insolvency. HEAF's trouble was caused primarily by its heavy commitment to trade-school students, the group with the highest default rate. More than one-third of HEAF's loans were made to students attending for-profit institutions that promised careers in fields from hairdressing...