Monday , June 18 2018
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Getting Out Of Dodge

Summary:
Total US credit market debt vs. nominal GDP – an ever widening gap. Eventually, something will have to give. It is not debt per se that is “bad” – it is the fact that much of it has supported overconsumption and malinvestment of capital. In other words, real wealth was diverted into unproductive channels and much capital was consumed. This is a process that will indeed turn out to have a limit. [PT] http://davidstockmanscontracorner.com/?p=185842&preview_id=185842&preview_nonce=e8d1ac49ce&preview=true

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Total US credit market debt vs. nominal GDP – an ever widening gap. Eventually, something will have to give. It is not debt per se that is “bad” – it is the fact that much of it has supported overconsumption and malinvestment of capital. In other words, real wealth was diverted into unproductive channels and much capital was consumed. This is a process that will indeed turn out to have a limit. [PT]

http://davidstockmanscontracorner.com/?p=185842&preview_id=185842&preview_nonce=e8d1ac49ce&preview=true

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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