Sunday, February 24, 2013

On the Global Numbers - CIA Edition

-Unemployment is dangerously high, social problems will be the result.

-Global growth is occurring as a result of every higher debt loads and a rapidly expanding money supply. Total debt is rising much faster than economic output. Every year we get more leveraged. The "efficiency" of debt is waning.

-Inflation is not a big issue today, but there is every reason to believe that this can't be sustained.