FT: Record Consumer Debt Provokes Sleepless Nights, Recession Nightmares

Record U.S. consumer debt reportedly is keeping at least one hedge fund expert awake at night with visions of recession haunting their dreams.

Ken Griffin, head of the Citadel group, told the Financial Times that he worries the nation could eventually confront a recession if all of the economic stars align – with one of those stars being soaring consumer debt and the other being a weak economic recovery getting long in the tooth.

“Over the last century, the average length of an American recovery has been six years. However, the current expansion has lasted eight, so the charts imply that a recession is overdue,” especially since this post-crisis ‘recovery’ has already upended history by being unusually weak,” the FT explained.

However, Americans’ debt level reached a record high this year, surpassing the peak touched just as the worst of the recession was taking hold in 2008, and marking a



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