The Wall Street Journal on ‘credit bubbles’:
The piece goes on (this is a summary, link to the full piece below), bolding mine:
Lacy Hunt, an economist with Hoisington Investment, estimated at a recent conference held by Grant’s Interest Rate Observer that debt of all kinds in the U.S. now totals more than $69 trillion. That’s more than double the $30 trillion recorded by Fed statisticians as recently as 2000.
WSJ: America Can’t Escape the Debt Vortex: Total obligations … hit 370% of GDP
