Obama wins: During the George W. Bush presidency marketable debt of the US government grew 93%. But under Barack Obama marketable debt grew 106% and Obama still has more years in which to rack up bigger losses. Plus, that 106% growth was off of a bigger base.
...consumers took on $241 billion in new debt in the fourth quarter of 2013, the largest quarterly increase since 2007.
Many national governments shot their wad in the the last financial disaster in 2007-2009. With far more accumulated debt when the next financial disaster hits sovereign debt defaults and larger scale panic seems likely. If it hits as gobal oil production starts to decline we will go into an economic depression.
|Share |||By Randall Parker at 2014 February 18 10:59 PM|