Data: FRB and St. Louis Fed
Annual Changes In Total Debt and GDP (Current $)
..and here are two questions:
- Where did all this additional debt go (i.e. what was it used for), since it didn't generate appreciable incremental economic activity?
- Should we solve this obvious imbalance by reducing GDP (i.e. incomes, jobs, etc.) or by getting rid of debt (through default)?
...and, not so off-topic, in a poll conducted May 6-10 by NBC/WSJ Goldman Sachs has an approval rating amongst Americans of... drumroll... four percent (4%). That's right, 96% of Americans hate their guts (a fast and loose interpretation of the poll, of course). I wonder what it feels like to be so universally despised? God only knows - and he should know, since they are doing His Work, after all? I predict heavy-duty scape-goatism heading their way.
I wouldn't have mentioned it, but their share price is currently scraping lows made last July, when the overall market (S&P 500) was at 875 (it's at 1,127 today). So, is GS underpriced or is SPX overpriced? Hmmm.. as GS goes so does Wall Street?