Yesterday, I blogged here that U.S. national debt has reached about 128% of GDP. Thus government and corporate debt make up about 178% of GDP. This is way too high and unstainable!
Just imagine what a 1 percentage point increase in interest rates may have!
"The Wall Street Journal reports that total corporate debt recently hit $11.2 trillion, roughly equivalent to half of what the US produces in an entire year. Many companies were forced to take on this debt to survive months of government-mandated shutdowns of the economy." (Source)
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