4 ms·
Before one gets hysterical, consider debt as a function of GDP. http://en.wikipedia.org/wiki/File:USDebt.png http://en.wikipedia.org/wiki/File:USDebt.png http:
by joubert 17y ago
Before one gets hysterical, consider debt as a function of GDP.
http://en.wikipedia.org/wiki/File:USDebt.png http://en.wikipedia.org/wiki/File:USDebt.png
http://en.wikipedia.org/wiki/United_States_public_debt http://en.wikipedia.org/wiki/United_States_public_debt
- bwd2 17y agoYeah, but the problem is that the rest of the world is not currently blown to smithereens and in need of American labor and capital to rebuild it the way it was in 1945 (not to mention deeply indebted to the United States as well). The trough of that graph is about the point where Western Europe and Japan managed to rebuild their economies to the point where they could actually compete effectively. The United States has no such competitive advantage at this point.
- joubert 17y agoSo where is all the US output going?