Americans and Canadian MASSIVE Debt IMPOSSIBLE To Ever Pay Back, Now Even Worse!

There is a lie you’ve been told which continues to be repeated: There is no such thing as too much debt, as long as it can be serviced. The reason this is a lie is not because large sums of debt are impossible to service, it’s that a fairly large percentage of people generally can’t pay their bills. But it hurts to say that, so we just sweep that data under the rug. Somehow that makes everything ok. Or does it?

Bill Payments By Americans: Cash-Strapped Americans Are Leveraging Their Homes To Pay The Bills
https://www.bloombergquint.com/business/2018/09/19/cash-strapped-americans-are-leveraging-their-homes-to-pay-the-bills
Survey: Home Improvements Best Reason To Tap Home Equity | Bankrate.com
https://www.bankrate.com/mortgages/home-equity/survey-homeowners-best-uses-of-home-equity/
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Debt service indicators of households, national balance sheet accounts
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110006501
Debt Burdens Are Eating Up a Growing Share of Canadian Incomes - Bloomberg
https://www.bloomberg.com/news/articles/2018-09-14/debt-burdens-are-eating-up-a-growing-share-of-canadian-incomes
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More older Americans are "unretiring" - CBS News
https://www.cbsnews.com/news/more-older-americans-are-unretiring/