The Most Amazing Stat EVER!!!!
In the past few years, America's public companies, private equity funds, cities, counties, states, and Federal Government have borrowed OVER $6 trillion dollars.....more than China's annual GDP and more than the total amount borrowed from 1776 to 1980.
Our cities, counties, states, and corporation borrowed this money and spent it driving much of the growth we have had since the collapse a few years ago. We have essentially borrowed our way into a recovery.....AND WE ALL BORROWED AS WE ARE ALL COLLECTIVELY AND INDIVIDUALLY RESPONSIBLE FOR OUR GOVERNMENT'S BORROWING.
Despite all this borrowing and spending, growth has been anemic.........and now, in order to maintain the perception of profit growth, manufacturers are putting less product in packages but charging the same price.You can read the article about this on the headline at www.udderworld.com
Now the question is how do we pay this money back.....we borrowed more money in just a few years than America borrowed in over 200. How can we keep consuming if we can't borrow anymore? ...and the crazy part is much of this borrowing came from our retirement, pension, and investment accounts in the form of muncipal bonds, corporate bonds, and government treasuries.
Can America keep consuming if it can't borrow trillions EACH year?
It is not the end of the world, just the end of the world as you knew it......and the beginning of the Udder World.