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Old 01-09-2019, 12:06 PM   #4458 (permalink)
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personal debt

Originally Posted by redpoint5 View Post
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.
Last night,they mentioned that US credit card debt alone,was near $4-trillion.
And average US savings was below $1,500.
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