[AlexdeLarge]

KD does a good job reviewing the lastest GDP reports...........

http://market-ticker.denninger.net/archives/1282-GDP-And-Debt-In-Video-Attached-Images.html

Nasty !!! Man........I wish I was a hippie who left the suburbs and grew my own food!

[Daniel_Plainview]

Too bad this chart (below) cuts off right when Obama took office, thereby omitting the best part: the explosion in debt amid Obama's & Pelosi's spend-a-thon & pork-o-rama.



I can't wait for the July 31, 2009 update.

[deMolay]

Thing is, this is not just a US problem. Every major country and economy in the developed world is in the same boat. They are all bankrupt, with heavy debt to GDP ratio's. Including China. There are no Green Shoots.

[deMolay]

To really scare yourself, start checking Total Debt as a percent of GDP for leading countries. The US is over 200%, China is not far behind. Consumer spending is dropping off the cliff, quite a few countries now are struggling with Deflation, and have been printing money like crazy to slow Deflation. Quanitive Easing is code for we are in Deflationary/Depression so open the spigots to slow Deflation. Won't work tho as consumers are scared as hell and are paying down debt and saving as fast as possible. Green Shoots have been eaten off by the Locusts as fast as they emerge.

[Novus]

Thing is, this is not just a US problem. Every major country and economy in the developed world is in the same boat. They are all bankrupt, with heavy debt to GDP ratio's. Including China. There are no Green Shoots.

If every single country in the world is bankrupt then who is loaning the money? How did it come to be that if you total up the worlds savings and then totaled up the worlds debt the debt would outweigh the world's savings a hundred times over depending on who you ask. Bankers should not be loaning out more than there is savings to give out but the truth is they do and they get away with it too.

The problem is bankers take peoples savings' and loan it out with interest but the bankers never create the money with which to pay back the interest on the loan. There is no saving to represent the debt accrued through interest. To pay back the loan somebody else must go into deeper debt to pay back the previous loan. The compounding Interest leads to more and more debt which can never be repaid. The game of the international bankers has now fully played out on a global scale. The jig is up where the system must unwind and ultimately collapse.

[Daniel_Plainview]

To really scare yourself, start checking Total Debt as a percent of GDP for leading countries. The US is over 200%, China is not far behind. Consumer spending is dropping off the cliff, quite a few countries now are struggling with Deflation, and have been printing money like crazy to slow Deflation. Quanitive Easing is code for we are in Deflationary/Depression so open the spigots to slow Deflation. Won't work tho as consumers are scared as hell and are paying down debt and saving as fast as possible. Green Shoots have been eaten off by the Locusts as fast as they emerge.

"If I was ever given just one chart, just one piece of data, to make the case that we were on an unsustainable path that had a date with a long period of contraction and economic hardship, it would be this one."

--Chris Martenson

link