“Deutsche Bank’s latest research on US consumer leverage suggests that the deleveraging process may have another couple of years to run. They determined the long-term trend line based on consumer debt to GDP ratio from 1953 to 2003, thus excluding the bubble years. Then they compared the current leverage to this line and looked at the rate of convergence. The intersection with the trend line is expected to take place in a year.”
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2+10 years
Everything goes to zero….eventually