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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ilaine who wrote (116252)8/9/2001 10:21:23 AM
From: Oblomov  Read Replies (1) of 436258
 
>> Similarly, debt isn't distributed evenly. The rich also have more debt.

In absolute terms, yes, but certainly not as a % of assets. See the 1998 SCF:

federalreserve.gov


ratio of debt payment to family income, by net worth %ile group:
< 25:      14.0
25-49.9:   19.0
50 - 74.9: 17.7
75 - 89.9: 14.4
90-100:    10.3
  
from table 14, p. 24, 1998 SCF


By any traditional measure of financial stress, the middle class is in trouble right now. Not so the wealthy...
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