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Monday, November 08, 2010


New York Fed is putting out stats on Consumer Debt nationally, and on pdf page 29 of the most recent report, this graph appears:

Well, that top yellow line is District 12.

I realize that not everyone knows the Fed Districts, so....

The most indebted area is the area which held Dem.

This is just consumer debt, and does not include government debt.

In response to your previous post, i fully expect
the US to devalue then default on debt owned by
non Americans . I see means testing and
an increase in the MRA for Social Security. This
presents another problem as household formation
will suffer. That is why we need tariffs. now, not tomorrow. Taxes on foreign manufactured goods
would be the quickest to enact and have positive
results instead of raising payroll or income taxes.
Do we really think the trade playing field is level
when it comes to tariffs or consumption ?
I am fascinated that California has a much bigger total debt balance per capita than New York.

It reminds me that some animals prefer not to @#$% where they eat. ;)
Interesting that California is running a be-a-tourist-here! ad. Kind of reminds me of Greece.
Sigh. When I look at that graph, I think that is a classic bubble.

They have long coattails.

Sigh. When I look at that graph, I think that is a classic bubble.

Here's a look much further back in time and I have also adjusted it for inflation.

Total Household Liabilities
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