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As Washington is struggling with debt and all its political ramifications, American companies and consumers are embracing it, running up record amounts in 2013.
Whether it's corporate loans, all quality levels of bonds or simple consumer credit, the debt party is back on in the U.S., whether it's in the boardroom or the living room.
Amid the financial crisis of 2008, the U.S. went into what economists call a "debt deleveraging cycle"—akin to a credit hangover, where the party has ended and everyone there decides to quit drinking cold turkey.
Somebody has clearly turned the lights back on, though, and corporate and individual buying is soaring.
YOu think it's bad now, wait another year or two until these huge health-bail-out-premiums...not to mention the hefty deductibles.... start to impact what is left of middle America...and more and more rely on credit.
Less and less disposable income, less and less buying power.
More and more debt, another round of bankruptcies.
I really, really hope someone comes into this thread and proves that I am wrong about this.
American Private Debt: It's back with a Vengeance
According to recent reports from the Federal Reserve, Americans are back up their eyeballs in debt !!
The reports are saying the debt levels are real close to the 2007 levels.
I hope we aren't setting up another big crash.
Individuals and Companies are heavy.
Total Household Debt is around $13 Trillion.
Sounds like a *recovery* .... for Who is the question.