Don't listen to the talk about "green shoots" in the US economy. Dr Doom, Nouriel Roubini, is expecting more bad news. All the stimulus packages are doing, he says, is slowing down the rate of decline.
The latest dat seems to support with Bloomberg reporting a steep decline in the the use of credit cards and Reuters reporting that 7% of homeowners with mortgages were at least 30 days late on their loans in February, up 50% from a year ago. The scary part behind those mortgage delinquencies comes when you break down the figures further. According to the data, 39.8% of subprime borrowers were at least 30 days behind on their home mortgage loans, up 23.7% from last year.
Green shoots? No, if that information is right, things are going from bad to worse.
no comment untill now