Not a pretty chart from Business Insider:
No matter how you slice it, things are worse than they have been in quite a long while – and remember that these results are after we went whole hog in to Obama’s Keynesian policies. It wasn’t supposed to be like this – but, there it is.
The reason for this is quite simple: we went too far. It is true, to a certain extent, that you can get a lot of “oomph” out of fake money and debt. You can pile that on for quite a while and make it seem like things are getting better. But the end result is a grossly devalued currency and a massive pile of debt – and both these things will increasingly prevent rationality and wealth creation. We’re at that point now – we’re economically doomed unless we change course. And, even then, we’ll have some pretty bad years to do through as the economy shakes off the burden of debt and fake money. But once done, it is like having a bad tooth extracted – the pain goes away, the hole heals over and, if you like, you can build a whole, new tooth to replace the old one.
This isn’t rocket science – this is just plain, old common sense. If someone came up to you and said that if you’d just go heavily in to debt everything will be made wonderful, would you believe them? Of course you don’t – you might have to take on some debt from time to time, but you know there is a limit to how much you can bear and, also, that in order to save money – if for no other reason – paying off debt swiftly is the best move. We can, as I’ve said, fix all this.
Or, as I’ve also said, we can start to fix all this – once Obama and his Democrats are out of power.
HAT TIP: PJ Tatler