• Student loan balances have skyrocketed by 160% over the past ten years to $1.4 trillion.
• Auto loan balances have shot up 42% over the past ten years to $1.1 trillion.
• Credit card debt and other revolving debt – one bit of good news, to the great desperation of economists who want consumers to borrow more to spend more – has inched up only 7% over the past ten years.
• And households owe nearly $10 trillion in mortgage debt. But here’s the thing about those mortgages: About 41% of the owner-occupied homes were free and clear, without mortgage, according to the Census Bureau’s study in late 2016. So the mortgage debt of $10 trillion is actually borne by only 59% of the homeowners. And many of them have paid down their mortgages to a large extent. So a much smaller percentage of Americans carry the lion’s share of that $10 trillion in mortgage debt. That’s where the risks are.
• "Lining up at Midnight at Wal-Mart to buy Food is part of the new Recovery. Banks
• "The Great Retail Apocalypse: