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Politics : Ask Michael Burke

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To: Peter Singleton who wrote (52429)	3/18/1999 10:33:00 AM
From: Mike M2	Read Replies (2) of 132070

Peter, add that to the woebegone list. for some perspective debt/gdp ratio was 140% in 1929, 190% in 1990, 260% 1998. for the first 3 Q's of 1998 for each dollar added to national income $2.92 was added to private debt. In 1980 this ratio was under 1.4 , In 1929 1.03 but my source does not mention breakdown of public/private for '29. Nonetheless it is safe to say that the excesses in credit and debt are unprecedented. woe is me. mike

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