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Originally Posted by RawAlex
We have another couple of years of the "bush revolution" to live through before anyone is going to be interested in investing in the US and buying the US currency. Until then, IMHO, things are not going to get much better... sadly.
Alex
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A chart I saw the other day sums it up pretty well:
In a nutshell:
Clinton years, more GDP growth than debt accumulated indicating real growth. Economic expansion and times o' plenty. Remember the 90s?
Bush years, and we're talking the exact same year bush gets in, debt outstrips growth and hasn't gone into the positive side since. GDP gains look marvellous but gains are debt-fueled and any real growth is subsumed by the debt.
And the real kicker? Median household income in Canada is ~$56k/year. The median household income in the US is ~$44k/year, which is ~$51.5k/year canadian. How messed up is that?