Courtesy of Zero Hedge, here's the clearest illustration yet of the economic reality that's staring us in the face like the muzzle of a shotgun.
You'll find a longer explanation at the link. Here's the simple version.
- The annualized growth in the US Gross Domestic Product has now fallen to 1.1%.
- Total US marketable debt (i.e. Treasury bonds, used to fund US government expenditure) has doubled over the past four years, at an annualized rate of 21%.
- This country's public debt to GDP ratio is now over 100%. In other words, for every dollar of value we produce, we owe more than one dollar of debt - and the imbalance is getting worse by the day.
Our national debt is now unpayable unless inflation drastically reduces the value of the dollar - which will simultaneously wipe out the value of our savings. We've spoken of the consequences of this imbalance many times, so I won't bore you by repeating them.
Mathematics is a science, not a political football or a propaganda talking point. Reality cannot and will not be denied. This situation cannot and will not be sustained.