Quote:
Originally Posted by sendler
Debt vs GDP. Keep in mind personal debt was arbitrarily reduced after 2009 as people walked away from their responsibilities in default.
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So the first graph is a combination of both public and private debt, and it includes mortgage debt? Seems about right. Public debt in the US is just above GDP (we collectively owe just over a whole year of productivity), and then personal debt is huge too.
Japan must be banking on being future rich to cover their liabilities. I saw a lot of medical students living "future rich" lives while in school. Burning through $100k per year in borrowed money didn't prevent vacation travel abroad.