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Replying to @mmay3r @JordanTSack
Stocks vs flows confusion. One is annual, one absolute.
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Replying to @M_K_Waldman
The point of the chart is that gdp growth is not outpacing the expansion of the debt. Do you see an error here, Mike. Genuinely interested.
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Replying to @JordanTSack
Yes, there is an error. GDP last year was ~5T greater than in 2008. That's 5T in excess production *each year*. Deficit is less than $1T per year. He is comparing cumulative debt issuance vs. a single year of GDP.
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Replying to @M_K_Waldman
So
@720Global is incorrect?pic.twitter.com/GYHE7zBeYU
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Replying to @JordanTSack @720Global
@michaellebowitz Trying to get to the bottom of this.
3:56 PM - 16 Sep 2018
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