U.S. households are loading up with debt again. It seems to me that this shows a kind of optimism (perhaps foolhardy so); yet many people are politically so mad. Nearly everything I read about the economy seems good so I don't understand the anger. Companies are making profits, but down from what they were a couple years ago, but things look good enough that the Fed probably will increase short-term rates another notch next month. Jobs are plentiful and many go begging.
U.S. households owed $12.25 trillion at the end of the first quarter, up
1.1% from the end of 2015, according to the Federal Reserve Bank of New
York’s Quarterly Report on Household Debt and Credit, released Tuesday.
If the first quarter repeats itself through the end of the year, U.S.
household debt will approach its peak of $12.68 trillion, which it hit
in the third quarter of 2008.*
Item added June 2, 2016: Home flipping is creating a home-price pressure cooker.**
* http://www.wsj.com/articles/trillions-in-debtbut-for-now-no-reason-to-worry-1464191555
** http://www.cnbc.com/2016/06/02/house-flipping-heats-up-creating-home-price-pressure-cooker.html
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