This is a companion to my last post on Real GDP Growth and the chart that went with it.
Now let's talk about real debt per capita. I'm adding up government debt, business debt, and household debt and adjusting it for inflation and population. This should show how much of a burden it is becoming for each of us (and our grandchildren).
Here's a look at the annual growth in that debt.
Now let's adjust the first GDP chart for population growth so we can make an apples to apples comparison. We will also trim the data so the time periods match up (1966 through 2010).
We've been borrowing from the future in order to boost the economy of the present. It is no longer as effective as it once was. Apparently the future is now.
These charts inspired by Charles Kiting from the comments of this post. He said, "Looks like a 30-year credit bubble to me."
Eurythmics: Sweet Dreams (1983)
Sweet dreams are made of this
Who am I to disagree?
I travel the world and the seven seas
Everybody's looking for something
Some of them want to use you
Some of them want to get used by you
Some of them want to abuse you
Some of them want to be abused
St. Louis Fed: Federal Government Debt
St. Louis Fed: Household Debt
St. Louis Fed: Business Debt
St. Louis Fed: State & Local Debt
St. Louis Fed: Real GDP
St. Louis Fed: CPI
St. Louis Fed: Population
Missing ABC7 I-Team Info About Illinois Concealed Carry Security Breach - Earlier tonight, my girlfriend and I were eating dinner in front of the TV when investigative reporter Chuck Goudie appeared with his latest ABC7 I-Team se...
2 hours ago