[RochesterFan]

I believe most of the bazillions of dollars wiped out in the last coupld of months had little to do with real wealth. I believe it was the bursting of an artificial bubble. Since it was artificial, the bursting was inevitable. The question was: when?

I think you would greatly enjoy this article by Karl Denninger. Mr. Denninger also posts the chart below, that provides some of the answers you seek.

[ccmay]

While that chart is indeed disturbing, the kind of debt held by consumers in the 20's and 30's tended to be much shorter-term. Our debt servicing burden is not as great now because repayments are spread out over a longer term.

That said, it's still much too high and should return to 1990 levels.

-ccm

[RipSawyer]

“George Bush, our Congress and Alan Greenspan, however, refused to accept their responsibility in 2000 and 2001 for the economic policies of this nation and its banking regulators that led to the final blow-off top in the Internet Bubble.”
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The article is very interesting but the line above sort of spoils it. George Bush didn’t take office until late January of 2001 yet they list his name first when counting those who screwed up in 2000 and 2001. Now they are blaming him retroactively!