The website, azizonomics.com, Azizonomics, Economics for the jilted generation, has a fascinating article titled Debt is Not Wealth which includes some terrifying charts and commentary, including:
Those twin delusions central bankers have sought to cater to — for creditors, that debt is wealth and should never be liquidated, and for debtors that debt is an easy or free lunch — have been smashed by the juggernaut of history many times before. While we cannot know exactly when, or exactly how — and in spite of the best efforts of central bankers — I think they will soon be smashed again.The above chart clearly demonstrates that America is Debt Man Walking. How will this end? Not well. Americans are about to live through an unimaginable historic event - the collapse of the fiat dollar and a misery inducing economic crash.
Judy Morris
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