nakedempire


The American Empire in a Changing World



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Tuesday, January 31, 2012

''The Debt Supercycle Part II: On Borrowed Time''

"Something is wrong with our economy. Given the recent pronouncements by the Fed, it is unlikely to improve in the short or intermediate term. America is drowning in debt and our financial experts keep advocating larger doses of "debt heroin" to fix the problem. In the last decade, total outstanding debt has increased from $28 trillion in 2000 to approximately $54 trillion in 2010. During that same period of time U.S. GDP has grown from $9.9 trillion in 2000 to $14.6 trillion in 2010. It is now taking close to $6 of debt to produce $1 in GDP. This is clearly unsustainable. America's economy is now beginning to malfunction."


from financial sense...

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