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Thread: "For The First Time In Modern History" US Government Debt Will Surpass Household Debt

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    "For The First Time In Modern History" US Government Debt Will Surpass Household Debt

    Last week, rating agency DBRS raised a red flag when it calculated that in the past decade average US wages have risen by only 5.7%, while consumer debt over the same period rose 60% more, or 9.3%. However, while the US household's reliance on debt to fill in the income gaps is hardly news, on Monday JPMorgan found another, even more concerning debt inflection point: household debt, fast as it may be rising, is about to be eclipsed for the first time ever by the even faster rising federal government debt.

    As JPM writes in its weekly market recap, prior to the Financial Crisis, household debt relative to federal government debt hit a high of 3 to 1 times. Since then, a combination of bank credit tightness and consumer prudence has sharply limited the growth in household debt, with liabilities increasing just 4% since 3Q 2008. However, JPM adds, "the same cannot be said of the federal government, with liabilities increasing almost 150% over the same period and nearly reaching household debt levels for the first time in modern history."

    To which Zippy will be along shortly to say "nothing to see here folks, move along"...
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

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    Belief, Money, and Violence are the three ways all people are controlled

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    Our central bank is not privately owned.

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  3. #2
    Chart indicates US government debt is only about $13 trillion? It is over $20 trillion. The cross-over actually occurred in 2009.

    (Wall Street Journal says US Household Debt hit $14 trillion last quarter).
    Last edited by Zippyjuan; 12-04-2017 at 07:26 PM.
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