Take a look at this and see if you don’t pucker up in tender places.
chart of debt as percent of gpd, 1920 to present.
Holy shit, would you look at that? Almost another 100% of GDP has been taken out in debt now vs. the height of Depression 1.0 – And it’s still climbing. Now do you understand why I keep telling everyone “it’s not over yet” and “if you keep investing, you’re just going to lose the rest of your money” ?
No one’s listening though. They think a 40% discount off something worth less than 10% of the asking price is a great fucking bargain. That’s what this whole Geitner Failout is about. And taxpayers are going to be on the hook for 93% of the losses. And yes, there will be losses. There will be huge ones.
Take a look at that chart again. Notice the peak of credit in D 1.0? Notice how it’s almost 5 years after Black Friday and the start of the stock market crash? It’s actually 2 years after the start of the market recovery, when it dropped a whopping 89% plus.
Our debt is what’s causing this colossal fuckup, and it’s still rising. There is no way the recent bump in the stock market is going to be anything other that a hiccough on the further downward slide of this awful mess. (Interesting. I guess the spelling ‘hiccough’ has been deprecated in favor of ‘hiccup’ in today’s spell-check and dictionary. I am official old-fashioned.)
Tags: bitch bitch bitch, depression 2.0, no really we're really fucking fucked this time, total cockup