Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Mike M2 who wrote (13886)	1/24/2002 8:16:38 PM
From: Ilaine	Read Replies (2) of 74559

Running the debt statistics back to 1991 is playing fast and loose, IMO. 1991 was the last recession. Running the statistics back to the 1980s or the 1970s gives a fairer picture, and shows that US consumer debt levels are not particularly extreme by historic standards. Interesting to see Japanese debt levels so high. I thought with their high savings level that Japanese consumers did not have high personal debt levels. Another stereotype bites the dust. Are high debt levels bad things? Well, may I remind you that during most of written history, Joe 6 Pack had zero debt, but also did not own his own home or much else worth mentioning. "Buy now, pay later" unleashed the greatest boom in durable consumer goods the world has ever known. Of course, if you live at home with your parents, and don't have a job, this may be hard to understand.

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