Sunday, July 13, 2014

13/7/2014: Household Debt Mountains


In the earlier post (here) I covered IMF data on Non-Financial Corporations debt, comparing Spain and other 'peripherals' with Ireland. And here is one other comparative: for household debt


I know, I know... it doesn't matter, really, that households are being tasked with funding Government debt first, their own debt later. All is sustainable...

One caveat: per my understanding, the above does not include household debts transferred to investment funds, as data for Ireland comes from ECB, which does not include data not covered by the CBofI, which does not include household mortgages and other debt sold to institutions not covered by the banking licenses in Ireland. So there, keep raising taxes and reporting higher revenues as a 'success' or 'recovery'... because household debt does not matter... until it matters...
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