This bit should worry anyone in the US- "Household net worth is $57T. Public government debt including the state and local sector is about $12T." Private weal

This bit should worry anyone in the US- "Household net worth is $57T. Public government debt including the state and local sector is about $12T." Private wealth != government income, unless one assumes that outright confiscation will occur. Even then going forward US total liabilities are even more than $57TN and the $57TN figure has grown that large due to QE to keep the banking system going. The fact that Credit Suisse cannot do a better job of obfuscating reality either means they are stupid, which I doubt, or more likely that is the best they can do to massage the figures, which bodes ill for the near future.