Student loans have seen almost 157 percent in cumulative growth over the last 11 years. By comparison, auto loan debt has grown 52 percent while mortgage and credit-card debt actually fell by about 1 percent, according to a Bloomberg Global Data analysis of federal and private loans. All told, there’s a whopping $1.5 trillion in student loans out there (through the second quarter of 2018), marking the second-largest consumer debt segment in the country after mortgages, according to the Federal Reserve. And the number keeps growing.
The untold story of the world economy — so far at least — is the potentially explosive interaction between the spreading trade war and the overhang of global debt, estimated at a staggering $247 trillion. […]
Kevin Barry of Consulting Research Group discusses the big debt levels many energy companies in the U.S. have amassed, and how that could impact production.
Even without the debt-binging frenzy of last year, we were in trouble. Deficits were on an upward trajectory. Social Security is no longer running cash-flow surpluses and will require $1.6 trillion be repaid from the […]