9/13/13, "What A Difference A Decade Makes," Zero Hedge
"Even as the popular press focused on the 5 year anniversary of Lehman, we decided to go back double that period, and take a look at what happened to the developed world economy in the past decade, starting with 2003. What we found was interesting....
*Until 2003, every $3.6 dollars in debt generated $1 dollar in GDP growth.
*In the past ten years, it took $6.7 dollars of debt to create $1 dollar of economic "growth."
*Furthermore, as we showed yesterday, in just the past five years, or since the Lehman failure, this ratio has exploded, and some $18 dollars of debt were required for every $1 dollar of GDP, with only $1 trillion in nominal GDP having been created among the G7 countries in the past five years matched by $18 trillion in debt.
- Total G7 debt/GDP at the end of 2012 was 450%.
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