This Chart Says It All – US Household Continues Deleveraging at Record Pace

US households continue to shed debt at a record pace – this graph says it all…

To put this breakdown in perspective – the Fed’s data on this goes back to 1976, and household debt grew every single year until 2009.

In fact, we’re looking at two straight years of deleveraging in terms of both mortgage debt and consumer credit – another record.

Yikes!