Wednesday, July 7, 2010
Comparison between US debt post WW2 and now
Just read this article about how some people compare the current US debt to the debt after World War 2, saying we were able to grow out of the debt then, so we should be fine now. They make the observation that the difference is there was a lot of pent up demand, people who had saved because they couldn't buy much during the war period were suddenly able to buy. At the moment there isn't the pent up demand, rather we have an amazing amount of debt. Something interesting to think about.