From this writer's observation, it seems that we have two US economies. One economy is doing just fine. The people in this group have money. They are living well, eating out frequently and buying pretty much what they want.
Then we have a second economy made up of the unemployed and persons living on the edge of disaster. Here we see a growing number of credit card and home equity delinquencies. These people are in a downward spiral. Having lost their jobs, they are using credit cards to survive. This leads to double trouble -- no money and default on credit card debt and home mortgage.
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
