Tuesday, September 23, 2008

Brad Setser: Follow the Money » Blog Archive » Some ballpark math on the US financial sector (i.e. just how big is $700b?): "The Federal Reserve’s flow of funds data indicates that US households have $11.2 trillion in outstanding mortgage debt on non-farm homes, another $2.4 trillion in outstanding “other mortgage debt” (a category that includes corporate farms, who knew … ) and $2.5 trillion outstanding consumer credit."
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Not so big after all?

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