Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Joe S Pack who wrote (39211)	10/6/2003 5:26:59 PM
From: Seeker of Truth	Read Replies (2) of 74559

I'm sure that corporate debt, government debt and personal debt as well as negative balance of payments are all too high in the U.S. But I've read that one of these, the personal debt, may be overestimated because it counts amounts owing on credit cards before the required payment date as real debt. Millions of people regularly have thousands "owing" but they don't pay any interest because they pay in full on the due date. This is the phenomenon of the ever advancing cashless society. The question is, does this distort the figures on consumer debt? If so the disaster may approach more slowly than one might otherwise expect.

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