[quote=Arraya][quote=flyer]Since “A population of debtors skating at the edge of disaster,” seems to be a very probable reality for our society in future years, all the more reason to make sure one has provided in all possible ways for one’s immediate and extended family.
lf.[/quote]. The debt data is pretty daunting. Another contraction would be catastrophic to a large portion of the population. We have roughly 70 percent of households that don’t have a thousand dollars for an emergency but they are inundated with debt. Student loans are at 27 percent delinquency rate now. Which, generation of, skyrocketed during the recession. That is a lot of people banking on a recovery that may never come[/quote]
While we’re neck-deep in debt, what we’re not neck-deep in is debt SERVICE (thank you, Fed! – I’m being facetious), a huge chunk of it at long-term fixed rates. The government and corporate graphs are not dissimilar.
Japan’s been dealing with high and rising debt – with concomitant low debt service – for 30+ years now.
So, while I agree that we’ve got way too much debt, that Day of Reckoning can be put off for many decades using all manner of mechanisms (re: shenanigans). I’m sure we’ll try them all and invent some new ones as well. In the meantime, folks just continue to live their lives…
