The Next Economic Disaster

For all the talk of government spending and government-held debt, according to finance expert Richard Vague, the true threat to the economy is privately-held debt. The Great Depression of the 1930s, the economic collapse of the past decade, and many other sharp downturns around the world all had one thing in common: they were preceded by a spike in privately-held debt. Currently, American consumers owe over $11.5 trillion in debt. Are we on the cusp of another economic crisis?

Join New America NYC for a conversation with Richard Vague, author of The Next Economic Disaster: Why It’s Coming and How to Avoid It, and Riva Froymovich on the crisis of debt and the future of the US economy.

Participants

Richard Vague Author, The Next Economic Disaster: Why It’s Coming and How To Avoid It

Riva Froymovich Vice President, Citi Community Development Former economics writer, The Wall Street Journal Author, End of the Good Life: How the Financial Crisis Threatens a Lost Generation---and What We Can Do About It @rivariva