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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: glenn_a who wrote (9457)7/19/2004 6:45:35 PM
From: Perspective  Read Replies (1) of 116555
 
<And I would argue that Debt-to-GDP is not the main thing. Much more important is total credit relative to GDP, and in this respect the U.S.'s position is very comparable to 1929, with the exception that it is, again, now the world's largest debtor nation.>

Please give some statistics. To what are you referring here? That the U.S. total debt/GDP is comparable to Britain's total debt/GDP in 1929? I can't remember now who got me started down this path, but someone said just that, that US total debt now is comparable to British total debt vs. GDP in 1929, and that large trade deficits were being run, with currency flow sterilization efforts much like the Chinese are undertaking at present.

If you have statistics at hand, I'd love to hear them. Would save me a ton of time I'm sure...

BC
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