Securitization troubles? How very American

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Since I’m a big fan of charts showing asset-backed security issuance, I was quite excited when Justin pointed out this set of graphics. Especially since they indicate that the rest of the world has, for the most part, escaped the more serious ABS fall-off we’ve had in the States. Check it out:


The folks at this web site used the data to make the following chart (the blue line is U.S. issuance and the red line is non-U.S.; dollars are in billions):


Interesting how the rest of the world seems to have picked up some of the U.S. slack. Now, how much ABS issuance we actually need in order to maintain well-functioning credit markets is an entirely different question. I’m still trying to form an educated opinion on that one, even though my government already has.