#19 The Value Investor
Behind the Balance Sheet
How to Fix the Debt Bumper
Almost all the debt in our economy was created during World War II. Here we are today at 350% credit market debt to GDP, more than $30 trillion of that is federal debt. You can't have a 350% total credit market debt and expect to have any growth in the economy on an inflation-adjusted population-adjusted basis. And so you could do that in the extremes of a very bad deflation, introducing a very bad economy like you had in the 1930s.
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