If America Was a Household
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Today’s Chart of the Day is from @hedgeye on X, formerly known as Twitter, and shows what a typical family income would look like if the US was a typical household.
In summary, US families borrow 38% of the amount they spend. This is unsustainable. The big question is how much, and for how long, can we continue to borrow at this rate?
Let’s say we cut back on spending by a draconian 50%, leaving us $32,000 annually to pay down debt. It would still take us 11 years to do so and at a 20% reduction, it would take us 26 years.
Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.
Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.