Skip to comments.Where Are The Smelling Salts? Total Credit Market Debt Owed in USA is 350% of GDP
Posted on 11/07/2012 6:09:47 PM PST by whitedog57
And why the day is young, the Dow Jones Industrial Average fell -340 points as of 11L31am. This partly explains the flow to Treasuries today. UPDAATE at 2:06pm: DJIA down around -250.
Most of the stock exchanges around the world are down 2% or more as well.
And gold and silver are down today as well.
Is there anything else that could be rocking the boats of investors? As of today, there is about $55 trillion of total credit outstanding are we getting near the end of the debt funding infatuation?
If I take the total credit market debt outstanding as a percentage of GDP, we see TCMDO is over 350% of GDP.
This is quite disconcerting.
(Excerpt) Read more at confoundedinterest.wordpress.com ...
Liberals thinks this is OK. It save the nation. FOOLS!
And interest on the debt is at all time lows. Just imagine the havoc that will happen when the prime rate hits 10-15%+.
Credit market debt will do to the economy what buying on the margin did to the 1929 stock market.
Can you say D I S A S T E R?
Thank you Obama!
Saving cash won’t yield much interest at all now, but it’s still smart to save a little cash. And save plenty of everyday necessities for sure.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.