Robert Pollin has done the best work on debt in United States. Perhaps chime in, but our situation here in the belly of the monster seems to be quite similar to what you described. Rob Schaap wrote: > I see in yesterday's *Australian* that personal debt has quickly risen to > $65 billion - averaging out at $3600 per Ozzie, and blowing our balance of > payments out to hell. And it's nearly all done on credit cards, mostly at > better than 16%pa. -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
