How Did America Go Bankrupt? Slowly, At First, Then All At Once!

And if we look at the federal debt added per full time job added (chart below)...broken arrow...broken arrow!  That is $1.92 million dollars in new federal debt per net new full time employee since 2008.  Compare that to the $30 thousand per net new full time employee from '70 to '80...or $140 thousand from '80 to '90...and nearly quadruples the $460 thousand per from '00 to '08.  Despite a far larger total population and after ten years of "recovery" since '08, this is likely as good as it gets.  We are likely at or very near the top of this economic cycle.  This pattern is likely to carry forward over the next decade and economic cycle...likely with disastrous results.

https://econimica.blogspot.com/2018/02/how-did-america-go-bankrupt-slowly-at.html

 

 

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.