Debt Bomb

I love graphs. They really put things into perspective.
Note that they are adjusted for inflation.

So what does all this mean? Well, a hangover for sure but more importantly, the consumer spending that has gone on as homeowners used their "best investment" as an ATM and truly made the transformation into homedebtors simply can not be maintained. Like home prices, there is a ceiling where no more refinancing can occur and the piper demands payment.