Quote:
Originally Posted by Bladewire
Most people do not pay their credit card balance in full every month.
The average American is now at a record high $67,000 in debt.
This is consumer debt not business debt.
We're now at higher levels of low net worth and high debt than we were during the financial crisis.
You might see these things as positive but financial analysts see these markers as negative red flags for the economy.
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Given the average cost of a house or an advanced degree, both things nearly always paid for with credit, $67,000 means a lot more Americans still need to own homes and achieve higher education, so that number would ideally be higher.
Different financial analysts have very different views of ideal markers because different groups either do or do not wish to expand the prosperity of the middle class.
A college-educated employed homeowner, driving past a homeless encampment, in a late model car, will have a debt-heavy much lower net worth than the folks living in tents, under an overpass, but which of those options should be our goal in America?