RECORD HIGHS: Household Debt Now Highest Since Lehman Crisis

Everything is hitting record highs these days. We’re enduring record hysteria by the left, record levels for equity markets, record amounts of money is being produced by central banks, and of course record amounts of debt in American households.

There was a brief respite in the debt narrative during 2012-2013, when debt actually decreased and savings rose. Incidentally, markets soared by 35% that year. Ever since then, Americans have, dutifully, tethered themselves to the debt bandwagon — beguiled and afflicted by predatory lenders who borrow at 0.5% and dole out at 32.5%. Some people increase their debt load because they must, in order to survive. Others do it because they need a new car or perhaps something stylish to wear at their next ballroom gala.

Either way, these numbers only increase the risk of a gigantic blow up — a la 2008.

Here is the only outlier, home equity debt — down 35% from its peak, thanks to stricter standards. Everything else is up.

The accumulation of debt runs in tandem with population growth. Although recent trends might suggest all is well on that front, the social dysfunctionality of the new millennial generation, who all seem to be gay or attracted to anime, has created a very stark and gloomy outlook for people who are paying attention to actuary tables. In other words, western societies must continue to attract and accept immigrants from nations who still believe in having babies, in order to keep the banks replete with new customers to pay them 32.5% interest rates for their money — which is given to them by the Federal Reserve and ECB for practically nothing.