Relevant:
- Welcome back debt! Total household debt shot up by $63 bln last quarter with total back over $12.35 tn
- BIS Study Suggests Households, Companies Set to Reduce Debt
- Global debt explodes at 'eye-watering' pace to hit £170 trillion
- Americans now Hold Over $4.1 Trillion in Consumer Debt: Last Debt Bubble Peak was at $2.5 Trillion.
- $24.5 Trillion In US National Debt, $144 Trillion In Unfunded Liabilities In... 2015
2009-03-10 — wordpress.com
``Set aside for a moment the argument about what is the right level of debt for all banks and all households. Let’s run a fire drill, and assume in 1980 we had it right. Assume GDP is a valid starting place to determine our ability to pay debt. And then assume $7 trillion of household debt and $14 trillion of financial debt is un-payable. All of it is a write off in this scenario. How do we erase this value-less pestilence?''
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