Our GDP is about $14 trillion.
Our deficit will reach $1.8 trillion.
All our combined debt is more than $52 trillion.
Federal, State and Local debt is about $14 trillion.
Corporate, private and personal debt about $38 trillion.
Comstock Partners says, “We are in the process of deleveraging the most leveraged economy in history.” Credit and debt are required for growth, but we’ve gone too far and delivered too little.
The stock market is exploding as firms shrink faster than income falls, but
“…if you step back and look at the larger picture, you can see that the stock market is still down over 35% from the highs reached in 2007 and also down over 33% from the highs reached in early 2000.”