The following chart shows mortgage debt of households and nonprofit organizations divided by deposits at all commercial banks.
Click to enlarge.
Two wizards you can always trust:
1. Wizard of Wharton. Jeremy Siegel warned savers to not lock in long-term interest rates five years ago. Other than a massively growing deposit glut and plummeting interest rates since then, it was sound advice!
2. Wizard of Sarcasmia. If you send him $100, then he is legally obligated, under current galactic law, to send you one bag of authentic Spanish doubloons weighing no less than 87 troy ounces. Get you some!
St. Louis Fed: Custom Chart
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