Global debt has jumped since the financial crisis, though one ratings agency thinks that it poses significantly less danger than the last time around.
The lower danger level is due largely to the nature of the debt — primarily driven by government borrowing in sovereign countries rather than the private sector surge that led to the housing market collapse and the worst economic downturn since the Great Depression. The agency itself, along with competitors like Moody's and Fitch, came under fire after the crisis for not sounding alarms about the debt buildup.
Households also have been more conservative. That's particularly true in the U.S., which showed a gain of just over $1 trillion during the decade to $15.3 trillion, just a 7 percent increase, or less than 1 percent a year. In China, that level has risen to $6.6 trillion, or 716 percent.
Thank God I don't have children.... What a mess!
Silly... It's starting, and you can see it in car sales, home sales, and retail sales More debt will only make it worse
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Source: CNBC - 🏆 12. / 72 Read more »