quote:Originally posted by umbrarchist:
This is a graph of the bankruptcy rate for the United States. Notice on the left that it is not linear, near the bottom it is 100, near the top it is 10,000. This is the American dream in the REAL WORLD.
Since Christmas I have emailed 1200 economists about this ignoring consumer depreciation business. I have gotten back 5 responses. One of them said my information was "interesting." They can't solve a grammar school algebra problem for 50 years and it's "interesting."
I'm not sure what you are asking. Clearly there is a positive correlation between consumer debt and bankruptcy. That that correlation increases exponentially with greater debt is intuitive. What specifically are you asking?
"consumer depreciation business"? Are you just noting that consumers are, on average, buying more "stuff" now than before and financing it with consumer debt? Are you inferring that the whole idea of the American Dream is something that is designed to advance consumerism and therefore we mortgage our financial health and futures to "buy" it? What?