Household debt in the U.S. is falling

Reading Time:

According to the IMF's IFS database, U.S. household debt reached 99.4% of the U.S. GDP in 2007. But households in several other economies (Denmark, Portugal, Ireland, and probably the Netherlands) were even deeper in debt at the time.

The Fed's FRED database publishes household debt data since 2009, and it shows a nearly 20% decline in indebtneness in the last five years:

The recent data also suggests that deleveraging may be over.

Which reminds me of the following quote:

Roundup of links from this week (incl. National Parks in China)

Why I am still not excited by the Palma index (Branko Milanovic) Sharing Economy Workers Need a ‘Safety Net’ (WSJ) Putting an End to 'Us and...

Face recognition and robocalls: where is the code of conduct?

Here is the news: Nine civil liberties and consumer advocate groups announced early Tuesday morning that they were withdrawing from talks with trade associations over how...