Americans’ Credit Card Debt Equals About 50 Percent of India’s GDP

September 9, 2013 10:57 pm

Well, at times we tend to compare stats that really are not comparable – for instance, we spotted this some time back –Student Loans In The U.S More Than China’s Total External Debt – we have one more today. Credit-card balances in the US (having dropped in three of the past five months) is now at about $850 billion (Source) – here is one way to digest that fact – India’s GDP is about 1.9 trillion dollars (Source) so the revolving credit of Americans is about half of India’s GDP – well, more or less. An obvious point – but helps us understand the magnitude of things.

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