WEB Notes: Yes, 2007-2008 was the time when the world collapsed and the bankers “saved us”. Do not let this little bit of truth about near record debt get you down, after all “Americans Are Brimming With Optimism On The Economy“.
You have to be wise enough folks to look beyond the hype of the media. The underlying facts are this nation like nearly every other nation is bankrupt. This is why they (bankers) created the bailouts to begin with. This is why there are low to no interest rates for banks. To artificially keep the economy alive. If you or I run out of money, we cannot print more money, we cannot change our interest rate on our homes to near zero to keep the show going. No, we face reality and a swift cold boot in the rear onto the street. The economy is being kept artificially alive until it is time to bring down the house of cards.
Total household debt climbed by $226 billion in the fourth quarter of 2016, rising to $12.58 trillion, according to a report from the Federal Reserve Bank of New York.
The $12.58 trillion in household debt today is only 0.8 percent shy of its 2008 peak at $12.68 trillion, when the United States was in a recession. The increase in debt in the fourth quarter of 2016 is the largest quarterly increase since the last quarter of 2013.
Source: Household Debt Climbs to $12.58 Trillion, Just Shy of Its 2008 Peak