Federal Reserve

The Idiocy Of The Media, Fed And Government

07/30/2009 • The Market Ticker

Let's cut the crap here and now and talk macro economics and debt. I'm going to go back to this chart again: This shows total non-government debt going from 150% of GDP (approximately) in 1981 to 350% of GDP (approximately) last year. In 1981 GDP was $3.128 trillion, so the total amount of debt in the system (non-government again) was approximately $4.5 trillion. In the last year GDP was $14.264 trillion, so total debt in the system was approximately $50 trillion. This is an increase in the outstanding (not taken and paid-off) debt of roughly $45 trillion dollars.