My Mind on Mortgages » debt problems http://evanswanson.com Evan Swanson (NMLS 120856), a mortgage professional and CERTIFIED FINANCIAL PLANNER™ with Mortgage Trust, Inc. (NMLS 3250) in Portland, shares his knowledge, thoughts & advice on mortgage & financially related topics Tue, 22 May 2012 15:21:42 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Macro view on debt http://evanswanson.com/housing-real-estate/credit-crisis-housing-real-estate/macro-view-on-debt/ http://evanswanson.com/housing-real-estate/credit-crisis-housing-real-estate/macro-view-on-debt/#comments Tue, 29 Jun 2010 15:06:53 +0000 Evan http://evanswanson.com/?p=3039 If you’ve been a regular reader of “My Mind on Mortgages” over the years then you know that I am a big fan of the Economist magazine.  I appreciate their global perspective and use of economic theory in explaining current events.  From time to time they publish special reports on hot topics that are very good.  In this weeks issue they did a special report on debt.  Here are some links and some interesting excerpts:

-A Cultural Perspective: “The battle between borrowers and creditors may be the defining struggle of the next generation.”

-Consumer Debt: “At the end of the second world war in 1945 consumer credit in America totalled just under $5.7 billion; ten years later it had already grown to nearly $43 billion, and the party was just getting started. It reached $100 billion in 1966, $500 billion in 1984 and $1 trillion in 1994, or around $4,000 for every man, woman and child. The peak, so far, was almost $2.6 trillion in July 2008.”

-Digging Out: “If being able to borrow makes people feel richer (however illusory the sensation), having to repay the debt makes them feel poorer.“

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