DJ, $9,000,000,000,000 for 200,000,000 people is $9,000,000 for 200 or $45,000 per person. Since they are earning about that much per year and interest rates are about 7%, that's only $3,000 per year. Yawn. Doesn't look like a problem to me.
Say it was only 100 million people responsible for the debt, that's still only $6,000 per year. Some of the debt, for cars for example, is as low as interest free, but I suppose it has to be paid off in a certain time.
Hang on, mortgages are lower than 7%, more like 5%.
Debt is good. It's motivating.
Mqurice |
