Talk about putting your liberty at risk, “But even with the Government’s contribution, we are still on a similar trajectory to the Great Depression.”
Something to keep in mind when enjoying your liberty this 4th.
Firstly, the contribution to demand from rising private debt was far greater during the recent boom than during the Roaring Twenties—accounting for over 22% of aggregate demand versus a mere 8.7% in 1928. Secondly, the fall-off in debt-financed demand since the date of Peak Debt has been far sharper now than in the 1930s.
Cash, gold and no debt baby!