Get spiked by email. Today, we are forever scrutinising our dialogue and conversation, looking out for offensive and insulting content. Of course, words, especially demeaning or degrading ones, have always had the capacity to hurt peopleâs feelings. But itâs different today.
Observers have ruminated on the potential value of the works at the Detroit Institute of Arts, the city's collection of classic cars, even its zoo animals. But the sale of any of those assets would just be a drop in the bucket. At $18 billion, Detroit's staggering debt is simply a lot to wrap one's head around. Even the city couldn't fully comprehend the magnitude, it seems, until Emergency Manager Kevyn Orr actually went ahead and filed for Chapter 9 bankruptcy. How could a city of 701,475 people rack up $18 billion in debt?
The Fed released household credit card debt data from the survey Sept. 4, 2014. The family unit. For 2013, the survey found that the average card debt was $5,700 for households that carry a balance --38 percent of all households. The family at the midpoint of the range had a balance of just $2,300, indicating that the average is skewed toward the high end by families that carry large balances.