The world is sitting on the edge of a precipice. It is a world which is highly leveraged. Global debt, for every $1 growth in GDP last year, required $3 of debt, and that doesn’t exclude America. In the fourth quarter, for every $1 of GDP growth, it needed $25 of debt. And when you look at the way that the government in America just wants to continually print money, you know that something is going to break in the system. You can’t go on having debt increasing at a faster pace than physical activity.
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