3 ms·
This site looks, a bit shady, but it does give figures: http://www.blacklistednews.com/view.asp?ID=6397 http://www.blacklistednews.com/view.asp?ID=6397 > Tota
by jibiki 18y ago
This site looks, a bit shady, but it does give figures:
http://www.blacklistednews.com/view.asp?ID=6397 http://www.blacklistednews.com/view.asp?ID=6397
> Total U.S. credit card debt reached almost $800 billion in November 2007
In contrast, the US GDP is about $14 trillion, so credit cards probably have some inflationary effect (GDP isn't the right statistic, what's needed is some measure of the total money supply, but I'm not sure how that's done.)
- nazgulnarsil 18y agoM0 or m1. gov uses m3 to make inflation look smaller i believe.
- jibiki 18y agoAh, thanks. M1 seems to be between 1 and 2 trillion, so credit card debt is definitely significant against that back drop.