Consumers’ Ability to Carry Their Debt is What Counts

We all know that a global deleveraging process has been underway for some time now, and it is occurring at all levels – among governments, corporations, and in households as well. While statistics quantifying the debt situation in specific areas are helpful overall, some can be rather misleading. For instance, an oft-quoted statistic is the “stock of household debt” among US households. Right now, US household debt is historically high – both in absolute terms and when compared to household income. However, what often goes unsaid is) Read More