Main Street's Balance Sheet.........from Rico

Drilling-down from the FED's Balanace Sheet, let's look at Main Street's Balance Sheet. After all, our $14 trillion economy is 70% consumer dependent, so it's reasonable to take a look to see how the average guy on Main Street stacks up. I'm kinda weary of hearing about Wall Street anyway.

- 54 million households have credit card debt. The average debt is $15,788.
- Average Americans have just about four credit cards, and 51% have at least two credit cards. Their average FICO falls between 600-700 (say 692) while the maximun score is 850 (at 620 and below you're effectively toast and can not get access to any credit).
- 270 million VISA cards and 203 million Mastercards are floating about.
- Average spending on housing is 34% of income, followed by 17% on transportation, and 13% on food. Whew! I'm sure glad energy and food aren't calculated into the inflation numbers by the 40# brains in government!
- The average American saves 6% of income....at least the half that bother to save anything. The Chinee save 30%, Switzerland 14%, and Germany 13%. And our FED is complaining that Americans are saving too much!
- The median household income for 2009 was $49,777.

Things are not looking better recovery-wise, in fact they look muy malo....very BAD.