Nobody seriously talks about the US debt. It is clear that no one will give it away and is not even going to. On the contrary, in recent years, the authorities have been increasing spending more and more, printing dollars and multiplying the figure of the public debt somewhere in the ceiling.
But in the US, there is another worrying indicator for Americans - residents' credit debts. And they have already exceeded $ 14 trillion in the United States. Actually, this is the price of a “good life”.
However, there is one point that greatly surprised me on this topic …
So, the total debt of Americans on loans in 2019 increased by $ 601 billion over the year and reached a record $ 14.15 trillion. Such data are provided on the website of the Federal Reserve Bank of New York.
Most of the total - $ 9.56 trillion - are mortgage debts, which grew by $ 433 billion over the year. And now attention is followed by debts on loans for training $ 1.51 trillion, and more than $ 100 billion of this amount owes people older 60 years. Fuck. It turns out that in the United States, people pay tuition loans to death. Of course, our higher education is also not free in many ways, but I don't know a single person who left the institute with an outstanding student loan. Well, or at least did not give it up for several years after training (and even then this is a tiny percentage).
Auto loans and credit card debt rose $ 57 billion to $ 1.33 trillion and $ 0.93 trillion, respectively.
Debts have been growing for the 22nd quarter in a row. The total debt of people between the ages of 18 and 29 rose to a record $ 1.04 trillion, according to Bloomberg.
And here's a forecast from an American investor. At the end of January, Jim Rogers said that by 2025 the world economy will face a crisis that could be the worst in 80 years.
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By the way, the total volume of Russian credit debt is also growing dangerously and has already reached 16.2 trillion, but so far rubles. However, many already point out that the situation is also beginning to slide towards negative.