#19 The Value Investor
Behind the Balance Sheet
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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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