First is 1950 to 1973. Next is 1973 to 2008. Finally, 2008 to 2013. 1973 is when the link between the dollar and gold was severed. I believe 2008 marked the end of the credit expansion period seen from 1973 to 2008. It's been covered many times on this blog and elsewhere, but I thought it'd be worth cutting these slices out. Clearly, the initial period shows debt and GDP moving in tandem. The second period sees debt grow at a far faster rate than GDP and breaking away from it. Since 2008, due to the Herculean efforts of the central bank, the ratio of the first period seems to be in effect. If left up to the market, this third period would have debt falling faster than GDP.
Mike Johnson Goes Full Neocon, Nikki Haley May as Well Be House Speaker
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In a speech that Nikki Haley would endorse 100 percent, Speaker Mike
Johnson begs the House to approve more aid to Ukraine and Israel to the
tune of $95 bi...
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