The Growing Debt Divide
Today’s Daily Angle comes from Wikinvest Wire member Michael Panzner of Financial Armageddon. You can read thefull article on Michael’s blog.
Just as there is more than one way to skin a cat (apologies to the animal lovers out there), there are myriad ways to illustrate the extent of the economic and financial mess we are in.
As a fan of simple graphs that tell a powerful story, I couldn’t resist the urge to highlight two charts featured in a recent post by the Sudden Debt blog, entitled “A More ‘Personal’ Look At Debt“:
It is common enough to look at debt as a percentage of GDP, DPI, etc. but that’s so… impersonal. So here are a couple of (very scary) charts that look at things from a dollars per person perspective (click on charts to enlarge).
Note: the Total Debt used to construct these chart does NOT include debt of the financial sector so as to avoid any double counting (e.g. a mortgage inside a CDO), even at the cost of somewhat understating the crush of debt. It’s bad enough, anyway.
