What is America's total assets?
Please sheck out the site before you hit the reply button. Detailed graphs and statistics are posted on it answering most of your questions. Household net worth is $ 51 billion? Does that assume real estate values stay at inflated values? U.S. saving rate is negative. Does net worth include the value of automobiles? Used or new? Made in the U.S. or Japan or Germany? What happens when real estate falls an average of 20% nationally? 30%? 38%? 40%? Household net worth in reality may be only $ 35 trillion. Wow! Can you multiply negative numbers?
Good question. Another good question is how is that debt structured? If they are saying our debt is $40 trillion, does that mean the total cost of the loan, including interest, over the life of the loan? What exactly makes up that number?