Twilight Zone Economics – Deviant Investor

4/23/2015 – Assume you have annual income of $60,000 and credit card debt of $10,000. No problem.

Assume you have the same income but credit card debt of $360,000. Big problem!

The US government has annual income of approximately $3 Trillion and official debt in excess of $18 Trillion. This does not count other liabilities such as Fannie and Freddie, and massive unfunded liabilities. But assuming “only” $18 Trillion in debt (optimistic) the US has the same ratio as a family with $60K income and $360K in credit card debt… read more

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