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Total household debt in the United States is in the neighborhood of $17 trillion, according to the Federal Reserve Bank of New York. Who's funding that debt? One theory is that ultrawealthy Americans are, through their excess savings, and that the result is a destabilizing cycle of inequality. This episode of the Chicago Booth Review Podcast looks at the research behind this argument and what this dynamic could mean for the US economy.
By Josh StunkelTotal household debt in the United States is in the neighborhood of $17 trillion, according to the Federal Reserve Bank of New York. Who's funding that debt? One theory is that ultrawealthy Americans are, through their excess savings, and that the result is a destabilizing cycle of inequality. This episode of the Chicago Booth Review Podcast looks at the research behind this argument and what this dynamic could mean for the US economy.