Student loans granted by the federal government. The total outstanding is actually around $300 billion more, but the above loans are backstopped by the tax serfs. Note when this bubble took off.  It happened just as the financial crisis triggered by the collapse of the housing bubble started. This is unlikely to be a coincidence – to us it looks like one of several methods that were used to re-inflate the credit bubble. Funny enough, the shorthand for this chart at the Fed’s economic data web site is indeed “TOTALGOV”. You couldn’t make this up.

May The Bursting Of The Student Loan Bubble Commence!, 7/21/17

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