As the unemployment rate surges, we see the continuing high correlation between credit cards delinquencies and unemployment. There appears to be universal agreement that the unemployment rate will remain very high well into 2010. Does this mean consumers and banks have tougher sledding ahead than the “green shoots” theorists are currently pricing in?
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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