Debt
There is a ton of debt in the system which will blunt the effects of lower interest rates. I wrote this last week:
Total debt outstanding -- that is personal, corporate and government debt outstanding -- is $31.758 trillion. Total US GDP is $14.196 trillion. That means that there is 2.23 times the amount of debt in the US relative to the total value of the US economy.
Total household debt is $13.960 trillion. That means total household debt as a percentage of GDP is 98.33%. Disposable income at the national level is $10.502 trillion. That means that total household debt is 132.92% of disposable income at the national level.
Simply put, the US is literally drowning in debt. And it's going to take awhile to pay this debt off. ...
There is a ton of debt in the system which will blunt the effects of lower interest rates. I wrote this last week:
Total debt outstanding -- that is personal, corporate and government debt outstanding -- is $31.758 trillion. Total US GDP is $14.196 trillion. That means that there is 2.23 times the amount of debt in the US relative to the total value of the US economy.
Total household debt is $13.960 trillion. That means total household debt as a percentage of GDP is 98.33%. Disposable income at the national level is $10.502 trillion. That means that total household debt is 132.92% of disposable income at the national level.
Simply put, the US is literally drowning in debt. And it's going to take awhile to pay this debt off. ...
posted by Jim Ginn at
9:45 AM
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