"The ratio of debt to income increased from about 35% in the early 1950s to about 65% by the mid-1960s, where it more or less stayed until the late 1980s. That's when debt started its epic rise, hitting 100% of income in 2001 and going all the way up to 133% in 2007."It's dropped a tiny bit this year, but still...those numbers are alarming.
Friday, June 12, 2009
How much Less?
I was fascinated by this article from The Curious Capitalist, particularly this tidbit about how households have ramped up their debt compared to their income: