Doug Henwood wrote:
> Wouldn't the mere transaction use of credit cause the debt stock to rise in
> line with income, rather than increasing steadily - once, that is, that
> credit cards are in wide use? The chart of the rate/1,000 personal
> bankruptcies matches the debt/income line rather well.
You are correct. My question was based on my hunch that the use of credit card
purchases may be still be increasing because of the rise of the web and because
some people find it more convenient than writing a check.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 916-898-5321
E-Mail [EMAIL PROTECTED]
