$11.85T US Household Debt; What China's Currency Devaluation Means
Americans Have $11.85 Trillion in Household Debt. How Did We Get Here? Household debt is now $11.85 trillion, and it has more to do with stagnant wages than unnecessary spending. In past decades, the more the top 10 percent prospered, the more the bottom 90 percent borrowed. Now, we’re borrowing more for things income used to cover.
What China’s Currency Devaluation Means. China on Monday announced it is lowering the value of its currency about 2 percent to boost its economic growth by supporting its exporters. Traders are betting that the currency will fall further. Markets around the world are reacting negatively.
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