US Households Are Not "Deleveraging" - They Are Simply Defaulting In Bulk | ZeroHedge
It is thus safe to say that all the other increasingly poorer US
households (who are not getting paid more as we showed this morning with
the chart showing Y/Y change in US household earnings) are merely
adding on more and more debt in hopes of going out in a bankrupt blaze
of glory just like everyone else: from their neighbors, to all
"developed world" governments.
And why not: after all this behavior is being endorsed by the Fed with both hands and feet.
What I was thinking too. How could people be paying down debt?
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