The great deleveraging – My Budget 360

  The great deleveraging – My Budget 360

 Households in the US continue to face a painfully slow process of austerity via debt deleveraging.  In a debt based system like the one we live in access to debt is viewed by many as access to money.  That is, your ability to finance a car, home, vacation, or even a college education is largely contingent on your ability to access debt.  With the markets reaching a peak debt situation households have been in a major process of deleveraging since 2007.  In fact, household debt obligations are now back to levels last seen in the early 1990s and similar to levels of the mid-1980s.