US: "Consumer debt was approaching $14-trillion after the second quarter of 2019, according to the New York Federal Reserve. It was the 20th consecutive quarter for an increase."
Canada: "Total credit market debt amounted to $2.25 trillion in the second quarter including nearly $1.47 trillion in mortgage debt and $782.9 billion in consumer credit and non-mortgage loans."
AU: "Hovering around 120 per cent of GDP — that is everything the nation produces in a year — Australia's household debt is second only to Switzerland, and we're not too far behind the Swiss. It wasn't always like this, with that debt burden almost trebling in the 28 years since Australia's last recession in the early 1990s."
UK: "Britain’s household debt mountain has reached a new peak, with UK homes now owing an average of £15,385 to credit card firms, banks and other lenders, according to the TUC."
Throwing out big numbers doesn’t really approach any conclusion on its own.
The concept of inflation alone means that consumer debt would logically be at its highest at any given time. All your numbers besides the average credit card debt per person would also need to account for population increase - and having consumer debt of 120% GDP debt doesn’t sound bad at all when you consider home mortgages.
US: "Consumer debt was approaching $14-trillion after the second quarter of 2019, according to the New York Federal Reserve. It was the 20th consecutive quarter for an increase."
Canada: "Total credit market debt amounted to $2.25 trillion in the second quarter including nearly $1.47 trillion in mortgage debt and $782.9 billion in consumer credit and non-mortgage loans."
AU: "Hovering around 120 per cent of GDP — that is everything the nation produces in a year — Australia's household debt is second only to Switzerland, and we're not too far behind the Swiss. It wasn't always like this, with that debt burden almost trebling in the 28 years since Australia's last recession in the early 1990s."
UK: "Britain’s household debt mountain has reached a new peak, with UK homes now owing an average of £15,385 to credit card firms, banks and other lenders, according to the TUC."