Reading through the Fed’s data what I got was, household debt is basically at an all time high, mortgage debt is a little under 08 high, but auto plus student loan plus credit card pushes it to all time highs. House prices are at all time highs. Total discretionary income is all time high, but median income is not. Population is up 20 million since 08. Debt to income wasn’t near highs.
So I’m trying to put together why income is ATH, but median is not and debt to income doesn’t look that bad. Is this where the income inequality is since the median is not keeping up with the total, or is it just total population is up so total always rises regardless of the median?
Basically the Fed numbers don’t point to 08 level insanity yet, but if you do an average budget with an average income, the math doesn’t seem to work. May is missing something about cooperate debt or foreign money that makes this work?
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