Obviously they’re all favorable, with the possible exception of German inflation – though even that is “welcome”. Taken together they paint a picture of a global economy that’s finally returning to the kind of solid growth and steady, positive inflation that most people consider both normal and good.
Unfortunately, the reason for the improvement is emphatically not good: In 2016 the world borrowed a huge amount of money and spent the proceeds. The result is “growth,” but not sustainable growth.
Consider:
Federal Debt in FY 2016 Jumped $1.4 Trillion, or $12,036 Per Household
(CNSNews.com) – In fiscal 2016, which ended on Friday, the federal debt increased $1,422,827,047,452.46, according to data released today by the U.S. Treasury.
At the close of business on Sept. 30, 2015, the last day of fiscal 2015, the federal debt was $18,150,617,666,484.33, according to the Treasury. By the close of business on Sept. 30, 2016, the last day of fiscal 2016, it had climbed to $19,573,444,713,936.79.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
4 comments:
This bunch won't be happy until we boycott movie theaters altogether.
The Greek debt crisis was the warning shot. Unfortunately no one listened. This is a pyramid scheme destined to play out badly.
I personally do not care what follywood says. I NEVER GO TO THEIR FILMS! I refuse to support them in anyway.
KEEP spending what we don't have....we'll come to the end of the road soon enough and NO ONE will be there with a "lending" hand either.
Need to right the ship and pronto...(i.e., Fed Gov't Spending)
Post a Comment