Slide #14 - Consumer bankruptcies ' USA
Despite declining interest rates, consumer bankruptcies have risen steadily from a little over 300,000 per year in 1980 to over 1.7 million in 2003. If bankruptcies have risen like this during times when interest rates are declining, one can only imagine what will happen when interest rates rise'and given the huge amount of dependence on foreign capital, interest rates could rise dramatically if foreigners lose their appetite for dollars.