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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: glenn_a who wrote (9457)	7/18/2004 4:59:07 PM
From: marginmike	Read Replies (1) \| Respond to of 116555

total credit relative to GDP I agree 100% As I said I am remembering from memory not fact, and when I get a chance I will review my data. total credit debt of US consumer and nominal debt is less a problem for US government and really a crisis for everyone.

To: glenn_a who wrote (9457)	7/19/2004 6:45:35 PM
From: Perspective	Read Replies (1) \| Respond to 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