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The U.S. Consumer – Overly Leveraged?



The U.S. Consumer – Overly Leveraged
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Much has been made in the mainstream media regarding the increasing leverage of the average U.S. household. Indeed, in aggregate terms, the numbers can seem overwhelming, often times mind- boggling. At the end of 2014, consumer credit (including both revolving and non-revolving debt) had ballooned to over $3.2 Trillion and mortgage debt exceeded $13.3 Trillion. The amount of outstanding household debt rivals that of the U.S. government and U.S. annual GDP. The exponential increase can be seen in the graph below.

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