By Harry Dent
In this, the second week of February, we got news that the Federal debt just hit $22 trillion!
Can’t say this is news to us.
The Federal debt has been doubling about every two administrations (about every eight years): $5 trillion to $10 trillion under President Bush… $10 trillion to $19 trillion under Obama.
If this trend continues (and it looks like it’s well on track to do so), that would mean, for the term after this one, we could see Federal debt at $36 trillion to $40 trillion.
And that’s whether or not Trump gets a second term.
How is that possible?
I tell you in today’s video. Watch now…
https://www.facebook.com/EconomyMarkets/videos/609293429520464/
Consumer debt is also at record levels, at $13.5 trillion!
Auto loans have surged past mortgage loans… and subprime has made a comeback, this time in the auto lending industry. It seems lenders learned something from the mortgage crisis… but not much.
Guess how many car loans are already in default… and we’re not even in a recession yet?
Student loans are seeing increasing numbers of default as well…
Listen to today’s video for all the shocking details.
Harry
Follow me on Twitter @harrydentjr