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The debt is real, the wealth not necessarily. But a more telling measure would be debt per capita or debt vs liquid assets. The financial crisis showed us that
by dpweb 10y ago
The debt is real, the wealth not necessarily. But a more telling measure would be debt per capita or debt vs liquid assets. The financial crisis showed us that 20 trillion can be erased relatively quickly.
http://www.huffingtonpost.com/2013/02/14/financial-crisis-cost-gao_n_2687553.html http://www.huffingtonpost.com/2013/02/14/financial-crisis-co...
- obstinate 10y agoThe debt is as "real" as the assets. All it would take to erase a good chunk of it is for people to stop paying or for significant inflation to occur, among many other possibilities. Edit: I'm not trying to suggest some kind of Fight Club-esque reorganization of society's financing structures. I'm just talking about the way that debt tends to get fractionally charged off when it goes to collections.
- mcguire 10y agoI wonder what the NCAV of the US is?