The Big Picture - Household Cash vs. Debt
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More disturbing still, Stephanie goes on, is that the households with the cash (and assets) "are not the ones with the debt." Rather, alas, the top 1% of householders hold 30% of the assets and 7% of the debt, while the bottom 50% hold a mere 6% of assets but a burdensome 24% of the debt.
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It must be nice being tabs, eh?
I've heard of the debt to wealth plan, but this is going overboard.
Can I interest you in any big bank stocks or perhaps the stock of one of many 'check cashing' companies? With annual interest rates above 40% you can't lose.