God bless bailouts and skirting personal responsibility. The debt burden on U.S. consumers is now at its lowest point in 6 years, shrinking to an astonishingly high $13.4 Trillion or 116% of disposable income. Average household net worth increased to $505,000 in 2010, up 5.1% from 2009.
The absurd reality is that consumers, despite what men in burlap overcoats say, are flush with cash and/or credit— and may start to spend like wild Indians, drunk at Foxwoods, lending to the ongoing recovery.
