Quote:
Originally posted by cthulu23
Actually, Americans have been accruing monstrous amounts of debt in the last few decades. Credit, not newfound wealth, has driven the spending of many of our fellow citizens. Consumer spending is keeping the economy affloat, but this pace cannot be sustained forever.
I would be interested in knowing what range of years you would use in your analysis. I'm interested in the period form the late 70's to now, which is the period of declining income that I've referenced probably 3000 times in this thread.
I don't consider it an insult to myself as I've provided pages and pages of data and analyses that was gleaned from government sources.
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Yes they have been increasing their debt levels but not beyond what is sustainable based on their levels of wealth accumulation. If it was not sustainable what do you think would be happening to bankruptcies and foreclosures?
The timing would depend on the specific indicators. Some have more history than others. I would typically go back beyond the period you describe.
The pages of analyses and data you have provided, while "gleaned" from government sources, ignore the very facts that I've pointed out in this thread. The articles and analyses so readily available are so full of holes in reasoning, analytic rigor, and economic theory that it's almost laughable. To point to one or two indicators to prop up broad economic phalacies is the worst possible "analysis".