The New Depression: The Breakdown of the Paper Money Economy by Duncan Richard
Author:Duncan, Richard [Duncan, Richard]
Language: eng
Format: epub, mobi
Publisher: John Wiley and Sons
Published: 2012-02-23T15:00:00+00:00
EXHIBIT 6.6 Capacity Utilization
Source: St. Louis Fed
The Government Sector
That leaves only the government sector.
It was only a $4.6 trillion increase in government debt since the end of 2007 that prevented a contraction in TCMD so sharp that it would have produced a replay of the Great Depression. (See Exhibit 6.7.)
EXHIBIT 6.7 Total Credit Market Debt Actual and if Government Debt Had Remained Flat after 2007
Source: Federal Reserve, Flow of Funds Accounts of the United States, second quarter 2011
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