Based on the headlines, it seems like consumer debt—the combination of car loans, student loans, mortgages and other types of debt—hits a new peak every quarter. For those of us who are students of history, this may elicit feelings of déjà vu. The elevated mortgage debt levels seen during the housing bubble proved to be untenable for many consumers, leading to financially destructive defaults and foreclosures. Based on the current trend, it would appear that consumers are borrowing more than ever before, raising questions about the sustainability of these debt levels. However, our analysis through the St. Louis Fed’s C ... (full story)