Record debt, easy money a bad recipe

Household debt has reached a new all-time high, and while the data do not indicate an imminent economic collapse, the debt binge cannot endure forever.
Total household debt reached $12.73 trillion as of March 31, eclipsing the previous record of $12.68 trillion set during the third quarter of 2008, the Federal Reserve Bank of New York’s latest “Quarterly Report on Household Debt and Credit” revealed. Among the major debt categories, mortgage balances accounted for $8.63 trillio