As Washington is struggling with debt and all its political ramifications, American companies and consumers are embracing it, running up record amounts in 2013.
Whether it's corporate loans, all quality levels of bonds or simple consumer credit, the debt party is back on in the U.S., whether it's in the boardroom or the living room.
Amid the financial crisis of 2008, the U.S. went into what economists call a "debt deleveraging cycle"—akin to a credit hangover, where the party has ended and everyone there decides to quit drinking cold turkey.
Somebody has clearly turned the lights back on, though, and corporate and individual buying is soaring.
Consumer credit, for instance, surged past the $3 trillion mark in the second quarter of 2013 and continues on an upward trajectory, according to the most recent numbers from the Federal Reserve.
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