(08-07-2018, 11:35 PM)mikesez Wrote:

(08-07-2018, 05:26 PM)jj82284 Wrote: A professional engineer that conveniently brushes aside the root cause of the biggest financial collapse of our lifetime and honestly tries to spin .64% average gdp as ROBUST GROWTH to defend a flawed economic system.  The guys who designed the mbs and derivatives were former engineers and physicists, still didn't make 2 + 2 = 49

Debt as a percentage of GDP was higher in the late 1940s, but those years had no financial crisis. 
I don't even see a strong correlation between high government debt and financial crisis, let alone evidence that one causes the other.  It's part of the story to be sure, but probably not the main part.

1.) Actually debt is approaching wwii levels quite rapidly.  We are already in excess of 100% of gdp which is right there.  

2.) In the 1940s as was just starting and there were 16 contributors to 1 beneficiary, today that ratio has shrunk to less than 3 to one not to mention the advent of Medicare Medicaid now Obama care and the rest of it.  

3.) In the 1940s spending was around 13ish% of gdp, now it's close to 25. There was more room in the economy for growth to overtake the increase in debt and eventually run surplusses.  

4.) I guess history is boring too.

---