Phew! I was starting to worry, but Greenspan tells me that it’s all okay:
[T]he Federal Reserve chairman said the record level of debt being carried by American households does not seem to constitute a dire threat to U.S. economic well-being. He did note that high levels of personal bankruptcies gave him pause, as they indicate “pockets of distress” among American households. However, Greenspan said the vast majority of U.S. consumers “appear able to calibrate their borrowing and spending to minimize financial difficulties.”
When can I take out my next home equity line of credit?