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Click to enlarge.
This chart shows the total household debt per employed person and is adjusted for inflation (March 2011 Dollars).
This does not include federal government debt (which is roughly the same size).
What a drag!
Source Data:
St. Louis Fed: Custom Chart
11 comments:
We may need more shaded bars soon!
economic,
I think it would be safe to say that we'll need more shaded bars at some point, unless one was to believe it is all just biscuits and gravy from here on out. Sigh.
Yeah, that was my comment, sorry for the google account mix up!
What do you call the mouse shadow on the second moon?
You are now GYSC Economic! ;)
People are at least trying to delever. But the government will have none of it. For every loan paid off, the Treasury will issue an equal and opposite bond. That is what a twisted "money as debt" system will get you.
My Slippery,
I think people are attempting to delever but failing. If they were succeeding then the payday loan business wouldn't be the growth industry of the decade.
Try your villain IQ tonight:
http://tinyurl.com/64476wv
Mua dib'!
GYSC,
My villain IQ hit about 70% I'd say, but perhaps not entirely by name (just by movie reference).
For example, I think #6 is that Conan the Barbarian villain. Or as I like to call him, "What's his face!" Hahaha! :)
The 1980s run-up was kinda sustainable, the baby boom was hitting "30-something" and all.
Funny thing, being born in the late 1960s I didn't really understand what a demographic bum-rush the BB ahead of me was. Only very recently, a couple of years ago.
Troy,
The 1980s run-up was kinda sustainable, the baby boom was hitting "30-something" and all.
Perhaps it is partly an optimism thing too. When I was young I borrowed to buy a new car. It was a cheap new car at least and I didn't have any other debt. I then headed to Seattle to find a career. I was very optimistic about the future.
The year was 1988. I wouldn't dream of being that bold now though, nor do I think it would work out nearly as well. I am very cynical about the future. I hope I am wrong to be. Sigh.
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