Household debt has reached significantly higher levels in the US than in the euro area, Japan or even globally. Photo: Bloomberg
Opinion
Opinion
Macroscope
The dangerous mirage of America’s continued prosperity
- The signs of US prosperity are brisk job creation and confident spending. But many of the new jobs are insecure and poorly paid and the colossal household debt is sustainable only at current record low interest rates
Household debt has reached significantly higher levels in the US than in the euro area, Japan or even globally. Photo: Bloomberg