Total credit market debt above $55 trillion, few jobs for many unemployed, the student debt bubble, and long-term compression of wages.
from My Budget 360
The US economy is facing tremendous financial hurdles in the years to come. The current market is being held together by a flood of debt that is masking underlying issues. Total credit market debt is many times larger than our annual GDP. Student loan debt continues to expand unabated even though the return-on-investment for many college degrees is not worth it. We also have an interesting dynamic where we still do produce manufactured goods but require fewer and fewer workers to conduct these jobs. These challenges will not go away when the last ballot is cast this November. We also have big challenges of taking care of an older generation with a much less affluent and deeply in debt younger generation.