For Americans who believe that all is well with the economy, it may come as a rude shock to know that their household debt may be the cause of the trouble. The Federal Reserve Bank New York has made an official announcement that debt balances zoomed quite drastically in the last part of 2016. The last quarter of the year posted a rather shocking $12.58 trillion in household debt, says the newest quarterly report from the Fed.
Nearing the recession time debt
In a record that is best not…