there are several problems with the "we're ok and that's what i'm sticking with" line of thought:
1) with our fiat money system we NEED constant expansion in order to service existing debt.
2) unemployment is actually much higher in reality than the official U-3 figure, as my giant image in the OP demonstrates.
3) highly leveraged companies collapse like cards when losses exceed 1/leverage ratio. ie, 33:1 leverage means a 3% loss will bankrupt you.
basically i think we and the rest of the world really are in for a world of hurt.
1) with our fiat money system we NEED constant expansion in order to service existing debt.
2) unemployment is actually much higher in reality than the official U-3 figure, as my giant image in the OP demonstrates.
3) highly leveraged companies collapse like cards when losses exceed 1/leverage ratio. ie, 33:1 leverage means a 3% loss will bankrupt you.
basically i think we and the rest of the world really are in for a world of hurt.