Who Is Fueling America’s Debt Binge?

Total household debt in the United States is in the neighborhood of $17 trillion, according to the Federal Reserve Bank of New York. Who’s funding that debt? One theory is that ultrawealthy Americans are, through their excess savings, and that the result is a destabilizing cycle of inequality. This episode of the Chicago Booth Review Podcast looks at the research behind this argument and what this dynamic could mean for the US economy.