It shows you that we paid attention in personal finance class. Love that revolving credit.
14 Trillion is only what the government admits. 30 is what is being discussed by the rest..
Americans can tell him?
Umm, folks, it says personal debt not national debt
That’s the $14 Trillion vs more than $22 Trillion.
Low wages are not going to help the first debt, but higher incomes can help pay off the first, and the second
Its all an illusion and it can crash at any time.
This is without context, personal debt against how much income and real property?
So the American economy is being kept afloat with wealth that doesn’t really exist? That’s quite the house of cards that could collapse if the interest rates went back up, or banks started collapsing.
How much of that debt is down to the health insurance scam?
Excellent question, ed27! Also, how much is due to student debt?
After World War I, the US overtook Britain as the leading lender nation. What happened?