Comment by blackrock

A lot of outstanding debt?

Student Loans. You need to make as much money as a doctor to afford housing. So did everyone become a doctor in the past 10 years?

Personal Auto Loans, although this seems rather localized.

Business Loans used for stock buy-backs, so executives could pay themselves a nice bonus. Can some of these businesses really pay back those loans?

Municipal bonds used for funding construction in areas with no economical viability.