According to CreditReport.com website, the top ten states with the highest average consumer credit ratings are found among the people of:
South Dakota 710
North Dakota 706
New Hampshire 703
In contrast, the ten populations with the worst average consumer credit scores are:
New Mexico 663
South Carolina 665
North Carolina 667
Texas largely escaped the mortgage meltdown due to low land prices and high oil prices, but this suggests there might be trouble in Texas ahead if oil stays around $40 per barrel.
What does it all mean? As George Will coyly hinted in his obituary for Daniel Patrick Moynihan:
"The Senate's Sisyphus, Moynihan was forever pushing uphill a boulder of inconvenient data. A social scientist trained to distinguish correlation from causation , and a wit, Moynihan puckishly said that a crucial determinant of the quality of American schools is proximity to the Canadian border. ... [S]tates trying to improve their students' test scores should move closer to Canada."Indeed.