Thursday, May 17, 2012

2008 was just the warm up. We will have more and bigger crashes.

To explain the severity of the situation, we need 2 more charts next to the GDP graphs they keep showing. One is public debt, the other is private debt as a percentage of GDP. Here is a chart of total credit versus GDP. The bubble is clear even to the blind eye:

http://www.kondratieffwavecycle.com/economy/deflation-how-to-survive-it/

2008 was just the [...]



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