Consumer Debt -- ouch, ouch, ouch

U.S. economic collapse looming for 2005 - Forums powered by Reason and Principle: "The American family is highly indebted, not just for their home. The Federal Reserve data show a total U.S. debt level now above $35 trillion, or some $ 450,000 for a typical family of four. Average consumer debt for credit cards, autos and such is at record highs. Car makers continue to offer car loans, with loans for up to six or even seven years. Many Americans owe more on their car than it is worth. "