From Decline of the Empire
By Dave Cohen
''It's been a while since we took a look at the household debt mountain, which grew at an alarming rate in the pre-bubble years after 2003. The Quarterly Report on Household Debt and Credit report for the 1st quarter came out on May 31. We know the economy sucks, so how are we doing on household debt front?
NEW YORK – In its latest Quarterly Report on Household Debt and Credit, the Federal Reserve Bank of New York today announced that student loan debt reported on consumer credit reports reached $904 billion in the first quarter of 2012, a $30 billion increase from the previous quarter.''
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