Posted: 4/7/2006 8:25:31 PM EDT
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This is an interesting article about debt in America. snip: America has become more a debt 'junkie' - - than ever before with total debt of $44 trillion - - with the highest debt ratio in history. That's $147,312 per man, woman and child - - or $589,248 per family of 4, $44,312 more debt per family than last year. Last year debt increased $3.5 Trillion, 5 times more than GDP. Household debt soared 12%. 68% ($30 trillion) of this debt was created since 1990, a period primarily driven by debt instead of by productive activity. And, the above does not include unfunded pensions and medical promises. Whole article here: http://www.financialsense.com/editorials/hodges/2006/0406.html |