At least credit card debt has fallen across the board.
"The survey also confirmed that Americans are shifting the kinds of debts that they carry. The share of families with credit card debt declined by 6.7 percentage points to 39.4 percent, and the median balance of that debt fell 16.1 percent to $2,600."
This has recently shifted to student loan debt however. The effects of this type of debt are a lot subtler and nastier because you can't get student loan debt discharged in bankruptcy proceedings.
What I found interesting was that about a quarter of Americans never had credit cards -- 23% as of 2007.
I'd love to see deeper stats on who does/doesn't carry a revolving credit account. I've become increasingly convinced they're among the most dangerous financial instruments you can present someone with. Others (housing, student debt) are at least backed by assets and/or earning power, however much they may be subject to bubble inflation.
Hi Ned - would you all consider offering a free scholarship for the Fall course as well? I think for those who are already employed, the July 23rd start date is a very quick turnaround to quit or take a leave of absence. It would be much better to have more time to prepare.
856 'Underperform' to 196 'Outperform'? Sounds like somebody is bearish! (disclaimer: as i'm sure is quite obvious the Motley Fool community KNOWS EVERYTHING and is NEVER WRONG. coughcough)
The surprise part was the promise of an additional $20-$150k in convertible notes. That's going to be huge for startups just starting out after the program.
