- 14 February 2005
I just see a lot that doesn't add up.refinancing might be a BIG problem ( and not just higher interest rates , many incomes are NOT keeping pace with inflation , even if job stability holds firm )
On one hand it's inflation, soaring cost of everything from food to utilities to housing, interest rates going up is supposedly bad, it's real wages not keeping up and so on. That's the narrative.
On the other hand, what I see is new cars, full shops and restaurants, airlines booked out and so on. Consumers are spending big.
Doesn't add up.