In 1952, the ratio of household debt to disposable income was less than 40 percent. In other words, if you had $1,000 after taxes, only $400 went to debt. By 2007, it was 133 percent. Since wages were not going up, people were living on credit cards and home equity loans. Today Americans carry over $2.56 trillion in consumer debt.
Even our best and brightest bankers fell for the ruse. In 1980, bank debt was around 21 percent of the total out put of the United States (GDP). By 2007, it was 116 percent.
— Robert Kiyosaki; Rich Dad's Conspiracy of The Rich
