Chart of the day: debt’s diminishing marginal return

After the United States started its ‘Guns and Butter’ exercise under President Johnson and eventually de-linked from gold in 1971, its economy has become ever more leverage- and debt-propelled. Interestingly, the result has been a diminishing marginal return for each new dollar of debt.

It’s Always Darkest Before the Dawn…of a Depression, Safe Haven

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More