Det elaka medeltalet - The Mean Average

- Both households and financial institutions have reduced their leverage,
but they still have a long way to go to reach their previous trend relationship to GDP.

Det skriver A. Gary Shilling på Bloomberg, 5 March 2014

The U.S. and other economies continue to deleverage in the aftermath of the global recession that capped 25 years of debt accumulation, especially by households and the financial sector.

The ratios of debt to gross domestic product in these two areas leaped three- and fourfold from the early 1980s to the onset of the 2007-2009 global crisis.

Both households and financial institutions have reduced their leverage since then, but they still have a long way to go to reach their previous trend relationship to GDP.

I am a strong believer in reversion to long-established trends.

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