If this doesn't worry you, well, you're a mushroom.
We previously warned of what can transpire when desperate governments
are no longer able to shoulder unbearable debts. As one can see in the
chart above, total public debt in the United States recently crossed the
proverbial Rubicon and now equals 104.95% of GDP. Though some would
argue that a healthy dose of debt is necessary to foster economic
growth, the US’s unsustainable public debt exceeds the same debt
measures of crisis-stricken Cyprus and fragile Spain, where public debt
as a percentage of GDP have been most recently estimated at 85.8% and
84.2%, respectively.
H/T, ETF Daily News
Stephen
They also say a little wine with dinner is good for digestion. Some of the pro debt folks must think gallons and gallons of it a day is just the ticket for a healthy happy life.
ReplyDeleteExactly...egg sucking morons. Thanks, my friend.
ReplyDeleteTotal Public Debt is the stupidity rating of the American People. Why?? Because we keep reelecting the same Idiots to run our country.
ReplyDeleteVery true, Rob, thanks.
DeleteYep and the interest on the 10 year bonds were rising as well which means regular interest rates will follow. It's gonna hurt bad then.
ReplyDeleteYes it will hurt. Thanks, PP.
DeleteThere's no question whether the American economy will collapse, but only that of "when". We'll be fortunate indeed if we get through another year.
ReplyDeleteIt'll be a bad and sad day.
DeleteEconomic growth, inflation, I don't see the difference. What we need is stability. If people earn more, prices just go up, then people don't have enough and want more. A vicious circle that will end in collapse.
ReplyDeleteUnions paved the way.
DeleteAfter taking a severe drubbing in 2008, most of my assets are tangible and physical these days. When the stock market goes down the drain, I'm not going to weep for the people that lose their proverbial rear ends. They should have learned.
ReplyDeleteI agree, Harry. I too went tangible back in ought seven.
Delete