Complex Event Analysis - Report

Key Focus

President Barack Obama once lamented that America is relying on "a credit card from the Bank of China," and during the Great Recession, when a journalist asked him, "At what point do we run out of money.", he responded, "We are out of money now." The partial government shutdown in 2018 and early 2019, during which 800,000 workers went unpaid, was based on the presumed pernicious effects of higher government spending and debt.
This belief is widespread because a number of economists, including the authors of leading macroeconomic textbooks, like Greg Mankiw, have long taught that high government deficits and debt would lead to high inflation, crowd out private investment, stifle economic growth, and even cause a run on the dollar resulting in a financial crisis.
However, since 1981, the government has routinely posted large deficits, and government debt to GDP has more than tripled.and none of those feared and predicted consequences has come to pass

Therefore, all growth is predicated on debt-based money and thus debt grows as fast as, or faster than, GDP.
Add to that the several other factors that contribute strongly to the tendency for debt to accumulate: Debt accrues interest; lenders have a powerful financial incentive to increase lending; there is always a level of unrecognized bad or unproductive debt; and owners of assets, be those assets buildings or companies, have a tendency to use increased leverage to extract more value from these assets over time.
Fundamentally, I believe that it is problematic.and perhaps even absurd.to have an economic system built entirely on debt-based money.

By the end of 2021, these numbers could easily rise to over 160 percent and 140 percent, respectively, for a total of 300 percent or more of GDP.
This huge debt overhang portends an extended period of stagnant and ever slower economic growth with falling living standards for millions of debt-burdened households.

Momentum supporting factors

(debt,investment,spending)

(debt,household,student)

(businesses,debt,households)

(businesses,debt,economy)

Challenge supporting factors

(debt,economic,gdp,growth)

(debt,gdp,growth,workers)

(debt,gdp,workers)

(debt,economic,growth,workers)

(debt,growth,workers)

(debt,spending,workers)

(gdp,growth,workers)

(gdp,workers)

(economic,growth,workers)

(growth,workers)

Work-in-progress supporting factors

(debt,growth,world_war_ii)

(debt,gdp,spending)

(debt,economic,gdp)

(debt,economic,gdp,growth)

(debt,gdp,households)

(economic,gdp)

(economic,gdp,growth)

(debt,deleveraging,gdp)

(debt,deleveraging,gdp,growth)

(deleveraging,gdp)

Complex Event Time Series Summary - REPORT

Time Period	Challenge	Momentum	WIP
Report	47.94	1.90	50.17

High Level Abstraction (HLA) combined

High Level Abstraction (HLA)	Report
(1) (debt,economic,gdp,growth)	100.00
(2) (debt,gdp,spending)	56.95
(3) (gdp,spending)	39.04
(4) (debt,growth,world_war_ii)	35.93
(5) (debt,economic,gdp)	34.17
(6) (economic,gdp)	33.68
(7) (economic,gdp,growth)	33.54
(8) (debt,gdp,households)	33.36
(9) (businesses,debt,households)	32.87
(10) (debt,growth,households)	32.59
(11) (debt,deleveraging,gdp)	32.03
(12) (debt,deleveraging,gdp,growth)	31.94
(13) (deleveraging,gdp)	31.69
(14) (deleveraging,growth)	31.66
(15) (debt,gdp,growth,world_war_ii)	31.48
(16) (debt,gdp,world_war_ii)	30.74
(17) (debt,growth,spending)	30.43
(18) (gdp,growth,world_war_ii)	30.32
(19) (gdp,world_war_ii)	30.27
(20) (growth,world_war_ii)	30.25
(21) (debt,gdp,growth,workers)	30.09
(22) (debt,paydown,spending)	29.99
(23) (debt,gdp,workers)	29.34
(24) (debt,economic,growth,workers)	29.04
(25) (debt,growth,workers)	28.46
(26) (debt,spending,workers)	28.37
(27) (gdp,growth,workers)	28.18
(28) (gdp,workers)	28.11
(29) (economic,growth,workers)	27.70
(30) (growth,workers)	27.65
(31) (inflation,workers)	27.63
(32) (debt,gdp,growth,vaulted)	27.49
(33) (debt,gdp,vaulted)	26.75
(34) (debt,growth,vaulted)	26.58
(35) (gdp,growth,vaulted)	26.35
(36) (growth,vaulted)	26.26
(37) (debt,gdp,growth,united_states)	26.14
(38) (debt,economic,growth,households)	25.49
(39) (debt,gdp,united_states)	25.40
(40) (debt,growth,united_states)	25.24
(41) (gdp,growth,united_states)	25.01
(42) (growth,united_states)	24.89
(43) (debt,gdp,growth,textbooks)	24.80
(44) (debt,gdp,textbooks)	24.08
(45) (debt,economic,growth,textbooks)	23.75
(46) (gdp,households)	23.64
(47) (debt,growth,textbooks)	23.24
(48) (growth,households)	23.17
(49) (debt,spending,textbooks)	23.13
(50) (gdp,growth,textbooks)	22.99
(51) (debt,investment,spending)	22.80
(52) (economic,growth,textbooks)	22.52
(53) (inflation,textbooks)	22.45
(54) (debt,gdp,growth,spending)	22.38
(55) (debt,economic,growth,spending)	21.29
(56) (growth,spending)	20.90
(57) (economic,growth,spending)	20.69
(58) (gdp,growth,spending)	20.53
(59) (inflation,spending)	19.88
(60) (debt,gdp,growth,re-leveraging)	19.83
(61) (gdp,growth,re-leveraging)	19.25
(62) (debt,gdp,growth,private-sector)	19.09
(63) (gdp,growth,private-sector)	18.51
(64) (crisis,debt,growth)	18.30
(65) (businesses,debt,spending)	18.14
(66) (debt,great_recession)	16.82
(67) (collapse,debt,gdp)	15.38
(68) (debt,great_recession,growth)	15.24
(69) (gdp,paydown)	14.96
(70) (businesses,debt,solutions)	14.78
(71) (debt,solutions,spending)	14.68
(72) (debt,economic,growth,presumed)	14.50
(73) (debt,household,student)	14.34
(74) (debt,presumed,spending)	13.99
(75) (gdp,growth,presumed)	13.96
(76) (economic,growth,presumed)	13.55
(77) (inflation,presumed)	13.34
(78) (debt,economic,growth,pernicious)	13.20
(79) (debt,pernicious,spending)	12.64
(80) (economic,growth,pernicious)	12.53
(81) (inflation,pernicious)	12.20
(82) (debt,paying,spending)	12.18
(83) (debt,loan,spending)	12.13
(84) (debt,economic,growth,investment)	11.99
(85) (economic,growth,investment)	11.30
(86) (inflation,investment)	10.95
(87) (debt,economic,growth,inflation)	10.86
(88) (cost,debt)	10.62
(89) (debt,medical)	10.44
(90) (debt,inflation,spending)	10.18
(91) (economic,growth,inflation)	10.09
(92) (debt,mortgages,student)	9.81
(93) (debt,not-for-profit)	9.79
(94) (debt,equity)	8.93
(95) (economic,growth,households)	8.61
(96) (great_recession,growth)	7.54
(97) (great_recession,inflation)	7.52
(98) (debt,economic,growth,portends)	7.35
(99) (economic,growth,portends)	6.66
(100) (crisis,growth)	5.64
(101) (debt,medical,student)	5.13
(102) (debt,not-for-profit,student)	5.03
(103) (debt,student,unplanned)	5.01
(104) (debt,service,student)	4.99
(105) (debt,profit,student)	4.96
(106) (debt,not-for,student)	4.94
(107) (debt,inflation)	4.87
(108) (debt,loan,student)	4.82
(109) (debt,federal_reserve,student)	4.73
(110) (debt,expand,student)	4.71
(111) (debt,inflation,interest)	4.62
(112) (debt,dividend)	4.43
(113) (businesses,debt,stock)	4.20
(114) (businesses,debt,economy)	4.18
(115) (businesses,debt,retailers)	4.04
(116) (businesses,debt,masse)	3.83
(117) (businesses,debt,inventory)	3.62
(118) (businesses,debt,income)	3.41
(119) (growth,inflation)	2.95
(120) (greenbacks,inflation)	2.81
(121) (businesses,debt,gdp)	2.76
(122) (collapse,gdp)	2.02
(123) (businesses,consumers,debt)	1.72
(124) (greg_mankiw,inflation)	1.44
(125) (cost,gdp)	1.04
(126) (civil_war,gdp)	0.97

Complex Event Analysis - REPORT

Supporting narratives:

momentum (Read more)

The lender could take the loss in the current year for tax purposes and the deferred loss would not be counted against that lender in calculating capital and reserve adequacy.
The benefit of these private debt jubilee programs would be a much-needed economic boost. A clean debt slate frees households for increased spending and investment that drives an economy forward.
High Level Abstractions:

(debt,investment,spending)

momentum (Read more)

In my investigations of household debt, it is not uncommon to find families with all of the following: mortgage debt greater than the value of their home, student loans still outstanding for the parents, and large debts tied to some unexpected surgery or other health-care expenses.
Private-sector loans are now asphyxiating households and businesses.
Families with high debt are far less able to pay for their own children's college, build additions to their homes, buy new appliances, or start new businesses.the very types of things that power an economy forward
High Level Abstractions:

(businesses,debt,households)
(debt,household,student)
Inferred entity relationships (9)
(businesses,debt,inventory) [inferred]
(businesses,debt,masse) [inferred]
(businesses,debt,economy) [inferred]
(businesses,debt,solutions) [inferred]
(businesses,debt,stock) [inferred]
(businesses,debt,gdp) [inferred]
(businesses,debt,spending) [inferred]
(businesses,debt,retailers) [inferred]
(businesses,debt,income) [inferred]

momentum (Read more)

In my investigations of household debt, it is not uncommon to find families with all of the following: mortgage debt greater than the value of their home, student loans still outstanding for the parents, and large debts tied to some unexpected surgery or other health-care expenses.
Private-sector loans are now asphyxiating households and businesses.
Families with high debt are far less able to pay for their own children's college, build additions to their homes, buy new appliances, or start new businesses.the very types of things that power an economy forward.
High Level Abstractions:

(businesses,debt,economy)
Inferred entity relationships (9)
(businesses,debt,inventory) [inferred]
(businesses,debt,masse) [inferred]
(businesses,debt,solutions) [inferred]
(businesses,debt,stock) [inferred]
(businesses,debt,gdp) [inferred]
(businesses,debt,spending) [inferred]
(businesses,debt,retailers) [inferred]
(businesses,debt,income) [inferred]
(businesses,debt,households) [inferred]

challenge (Read more)

Therefore, all growth is predicated on debt-based money and thus debt grows as fast as, or faster than, GDP.
Add to that the several other factors that contribute strongly to the tendency for debt to accumulate: Debt accrues interest; lenders have a powerful financial incentive to increase lending; there is always a level of unrecognized bad or unproductive debt; and owners of assets, be those assets buildings or companies, have a tendency to use increased leverage to extract more value from these assets over time.
Fundamentally, I believe that it is problematic.and perhaps even absurd.to have an economic system built entirely on debt-based money.
High Level Abstractions:

(debt,economic,gdp,growth)
Inferred entity relationships (21)
(debt,economic,gdp) [inferred]
(debt,economic,growth,inflation) [inferred]
(debt,economic,growth,portends) [inferred]
(gdp,growth,presumed) [inferred]
(debt,economic,growth,pernicious) [inferred]
(gdp,growth,re-leveraging) [inferred]
(gdp,growth,vaulted) [inferred]
(gdp,growth,workers) [inferred]
(debt,economic,growth,presumed) [inferred]
(gdp,growth,textbooks) [inferred]
(debt,economic,growth,investment) [inferred]
(debt,economic,growth,spending) [inferred]
(debt,economic,growth,workers) [inferred]
(gdp,growth,united_states) [inferred]
(debt,economic,growth,textbooks) [inferred]
(economic,gdp) [inferred]
(economic,gdp,growth) [inferred]
(gdp,growth,private-sector) [inferred]
(debt,economic,growth,households) [inferred]
(gdp,growth,spending) [inferred]
(gdp,growth,world_war_ii) [inferred]

challenge (Read more)

President Barack Obama once lamented that America is relying on "a credit card from the Bank of China," and during the Great Recession, when a journalist asked him, "At what point do we run out of money.", he responded, "We are out of money now." The partial government shutdown in 2018 and early 2019, during which 800,000 workers went unpaid, was based on the presumed pernicious effects of higher government spending and debt.
This belief is widespread because a number of economists, including the authors of leading macroeconomic textbooks, like Greg Mankiw, have long taught that high government deficits and debt would lead to high inflation, crowd out private investment, stifle economic growth, and even cause a run on the dollar resulting in a financial crisis.
However, since 1981, the government has routinely posted large deficits, and government debt to GDP has more than tripled.and none of those feared and predicted consequences has come to pass
High Level Abstractions:

(economic,growth,inflation)
(gdp,growth,spending)
(gdp,workers)
(growth,workers)
(debt,pernicious,spending)
(debt,economic,growth,presumed)
(debt,spending,workers)
(debt,presumed,spending)
(debt,gdp,growth,workers)
(greg_mankiw,inflation)
(growth,spending)
(debt,economic,gdp,growth)
(inflation,investment)
(economic,growth,spending)
(inflation,pernicious)
(debt,economic,growth,inflation)
(debt,growth,textbooks)
(economic,growth,textbooks)
(debt,great_recession)
(crisis,debt,growth)
(gdp,growth,workers)
(economic,growth,workers)
(inflation,textbooks)
(economic,growth,presumed)
(debt,growth,workers)
(debt,economic,growth,textbooks)
(debt,gdp,textbooks)
(inflation,presumed)
(debt,inflation)
(growth,inflation)
(debt,gdp,workers)
(debt,inflation,spending)
(gdp,spending)
(gdp,growth,textbooks)
(debt,growth,spending)
(debt,economic,growth,workers)
(debt,economic,growth,investment)
(gdp,growth,presumed)
(debt,gdp,growth,spending)
(debt,investment,spending)
(debt,gdp,growth,textbooks)
(economic,growth,investment)
(debt,spending,textbooks)
(debt,gdp,spending)
(debt,economic,growth,spending)
(inflation,workers)
(inflation,spending)
(economic,growth,pernicious)
(debt,great_recession,growth)
(great_recession,inflation)
(debt,economic,growth,pernicious)
Inferred entity relationships (79)
(economic,growth,security) [inferred]
(debt,gdp,growth,workers) [inferred]
(debt,economic,growth,workers) [inferred]
(debt,economic,growth,textbooks) [inferred]
(debt,gdp,growth,united_states) [inferred]
(gdp,growth,world_war_ii) [inferred]
(debt,gdp,united_states) [inferred]
(debt,economic,growth,portends) [inferred]
(economic,growth,spending) [inferred]
(gdp,growth,presumed) [inferred]
(economic,growth,inflation) [inferred]
(economic,growth,households) [inferred]
(economic,growth,product) [inferred]
(debt,gdp,spending) [inferred]
(debt,gdp,workers) [inferred]
(debt,gdp,growth,vaulted) [inferred]
(growth,workers) [inferred]
(debt,growth,workers) [inferred]
(economic,growth,workers) [inferred]
(economic,growth,policies) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(great_recession,growth) [inferred]
(debt,growth,households) [inferred]
(gdp,growth,united_states) [inferred]
(debt,spending,textbooks) [inferred]
(crisis,debt,investors) [inferred]
(debt,growth,world_war_ii) [inferred]
(debt,economic,gdp) [inferred]
(economic,growth,prioritize) [inferred]
(debt,gdp,growth,private-sector) [inferred]
(debt,economic,growth,pernicious) [inferred]
(debt,spending,workers) [inferred]
(debt,economic,growth,presumed) [inferred]
(economic,gdp,growth) [inferred]
(debt,gdp,growth,re-leveraging) [inferred]
(debt,growth,united_states) [inferred]
(crisis,debt) [inferred]
(gdp,growth,spending) [inferred]
(economic,growth,trump) [inferred]
(debt,gdp,households) [inferred]
(growth,inflation) [inferred]
(economic,growth,textbooks) [inferred]
(gdp,growth,vaulted) [inferred]
(debt,gdp,growth,textbooks) [inferred]
(debt,great_recession,growth) [inferred]
(gdp,spending) [inferred]
(debt,growth,textbooks) [inferred]
(crisis,debt,fed) [inferred]
(debt,gdp,growth,spending) [inferred]
(debt,economic,growth,inflation) [inferred]
(debt,gdp,world_war_ii) [inferred]
(economic,growth,portends) [inferred]
(debt,inflation,interest) [inferred]
(gdp,workers) [inferred]
(debt,gdp,vaulted) [inferred]
(economic,growth) [inferred]
(debt,growth,vaulted) [inferred]
(debt,gdp,textbooks) [inferred]
(debt,economic,gdp,growth) [inferred]
(economic,growth,investment) [inferred]
(gdp,growth,re-leveraging) [inferred]
(gdp,growth,workers) [inferred]
(gdp,growth,textbooks) [inferred]
(debt,economic,growth,investment) [inferred]
(debt,economic,growth,spending) [inferred]
(economic,growth,pernicious) [inferred]
(debt,inflation,spending) [inferred]
(debt,inflation) [inferred]
(economic,growth,positive) [inferred]
(debt,great_recession) [inferred]
(debt,gdp,growth,world_war_ii) [inferred]
(inflation,spending) [inferred]
(economic,growth,presumed) [inferred]
(debt,growth,spending) [inferred]
(economic,gdp) [inferred]
(gdp,growth,private-sector) [inferred]
(debt,economic,growth,households) [inferred]
(growth,spending) [inferred]

challenge (Read more)

This debt level burdens individuals and small businesses and stultifies economic growth.
As both the government and American households and businesses use debt to fight the economic collapse caused by the pandemic, these debt ratios continue to spike
High Level Abstractions:

(growth,households)
(businesses,debt,households)
(debt,growth,households)
(gdp,households)
(debt,economic,growth,households)
(economic,growth,households)
Inferred entity relationships (44)
(economic,growth,security) [inferred]
(economic,growth,trump) [inferred]
(businesses,debt,retailers) [inferred]
(economic,growth,textbooks) [inferred]
(businesses,debt,stock) [inferred]
(debt,economic,growth,workers) [inferred]
(debt,economic,growth,textbooks) [inferred]
(debt,growth,textbooks) [inferred]
(businesses,debt,inventory) [inferred]
(businesses,debt,solutions) [inferred]
(debt,economic,growth,inflation) [inferred]
(debt,economic,growth,portends) [inferred]
(economic,growth,portends) [inferred]
(economic,growth,spending) [inferred]
(economic,growth,inflation) [inferred]
(businesses,debt,economy) [inferred]
(economic,growth,households) [inferred]
(economic,growth) [inferred]
(debt,growth,vaulted) [inferred]
(growth,households) [inferred]
(businesses,debt,gdp) [inferred]
(debt,economic,gdp,growth) [inferred]
(economic,growth,investment) [inferred]
(economic,growth,product) [inferred]
(debt,growth,workers) [inferred]
(economic,growth,workers) [inferred]
(economic,growth,policies) [inferred]
(businesses,debt,spending) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(debt,economic,growth,investment) [inferred]
(debt,economic,growth,spending) [inferred]
(economic,growth,pernicious) [inferred]
(economic,growth,positive) [inferred]
(debt,growth,world_war_ii) [inferred]
(businesses,debt,masse) [inferred]
(debt,economic,gdp) [inferred]
(economic,growth,prioritize) [inferred]
(businesses,debt,income) [inferred]
(debt,economic,growth,pernicious) [inferred]
(debt,economic,growth,presumed) [inferred]
(economic,growth,presumed) [inferred]
(debt,growth,spending) [inferred]
(debt,growth,united_states) [inferred]

challenge (Read more)

It's been an underlying issue in several of the decade's worst problems, from the 2008 global crisis and slow growth that followed the Great Recession to the discontent that led to Donald Trump's election in 2016.
High Level Abstractions:

(debt,great_recession,growth)
(great_recession,growth)
Inferred entity relationships (2)
(great_recession,growth) [inferred]
(debt,great_recession) [inferred]

challenge (Read more)

It's been an underlying issue in several of the decade's worst problems, from the 2008 global crisis and slow growth that followed the Great Recession to the discontent that led to Donald Trump's election in 2016
High Level Abstractions:

(crisis,debt,growth)
(crisis,growth)
Inferred entity relationships (14)
(crisis,growth,project_syndicate) [inferred]
(debt,growth,households) [inferred]
(crisis,growth,political) [inferred]
(crisis,growth,reverberate) [inferred]
(debt,growth,vaulted) [inferred]
(debt,growth,spending) [inferred]
(crisis,debt,investors) [inferred]
(crisis,growth,societal) [inferred]
(crisis,debt,fed) [inferred]
(debt,growth,textbooks) [inferred]
(debt,growth,world_war_ii) [inferred]
(debt,growth,workers) [inferred]
(crisis,debt) [inferred]
(debt,growth,united_states) [inferred]

challenge (Read more)

Debt is necessary for growth; GDP growth is correlated to debt growth.
This is the paradox of debt: Debt can be beneficial and it is necessary for growth, but too much debt stifles growth and can bring financial crisis.
High Level Abstractions:

(crisis,debt,growth)
Inferred entity relationships (10)
(debt,growth,households) [inferred]
(debt,growth,vaulted) [inferred]
(debt,growth,spending) [inferred]
(crisis,debt,investors) [inferred]
(crisis,debt,fed) [inferred]
(debt,growth,textbooks) [inferred]
(debt,growth,world_war_ii) [inferred]
(debt,growth,workers) [inferred]
(crisis,debt) [inferred]
(debt,growth,united_states) [inferred]

challenge (Read more)

Much of that cost would be borne by the government, and thus show up as increased federal government deficits and debt.
That brings us to the subject of high federal government debt, which is an area much more visible and hotly debated.
We need to start most fundamentally with the question of whether high government debt is problematic
High Level Abstractions:

(cost,debt)
Inferred entity relationships (1)
(cost,debt,investors) [inferred]

challenge (Read more)

Article reposted from DemocracyJournal...org.
We were drowning in debt before the COVID-19 crisis, and now we are deluged in it.
"Total debt" is the sum of public (government) and private-sector debt.and private-sector debt is comprised of business and household debt: for example, student loans, mortgages, auto loans, small business loans, and more.
High Level Abstractions:

(debt,mortgages,student)
(debt,household,student)

challenge (Read more)

In this existing program, students who serve in the public or not-for-profit sector and also make 120 consecutive payments on their debt can have the remainder of that debt forgiven.
Unfortunately, the government has taken a very narrow view of this program and disqualified many participants for minor infractions
High Level Abstractions:

(debt,not-for-profit)
Inferred entity relationships (1)
(debt,not-for-profit,student) [inferred]

challenge (Read more)

We have already argued that, contrary to received wisdom, issuing more government debt has led to lower inflation. But this has been true in the past because the interest rate obligation and maturity aspect of Treasuries serve as an accountability mechanism by requiring that interest be paid every six months and that principal is fully due at a specific point in time
High Level Abstractions:

(debt,inflation,interest)
Inferred entity relationships (2)
(debt,inflation,spending) [inferred]
(debt,inflation) [inferred]

challenge (Read more)

It's been an underlying issue in several of the decade's worst problems, from the 2008 global crisis and slow growth that followed the Great Recession to the discontent that led to Donald Trump's election in 2016. Since minority communities have disproportionately felt the private debt burden, it has also been a part of the racial injustice that has only become more urgent and visible this year
High Level Abstractions:

(debt,great_recession)
Inferred entity relationships (1)
(debt,great_recession,growth) [inferred]

challenge (Read more)

Thoughtful bankruptcy reforms such as these would both have a beneficial impact on the lives of Americans and on the nation's household debt burden, which would translate into a powerful economic benefit.
Business Debt Relief
For the last debt area.business debt.one recommendation would be to modify somewhat the tax treatment of debt and equity.
High Level Abstractions:

(debt,equity)

challenge (Read more)

Why freeing American households and businesses from crippling private debt would be a boon to the economy. Article reposted from DemocracyJournal...org.
We were drowning in debt before the COVID-19 crisis, and now we are deluged in it.
"Total debt" is the sum of public (government) and private-sector debt.and private-sector debt is comprised of business and household debt: for example, student loans, mortgages, auto loans, small business loans, and more
High Level Abstractions:

(businesses,debt,households)
(businesses,debt,economy)
Inferred entity relationships (10)
(businesses,debt,inventory) [inferred]
(businesses,debt,masse) [inferred]
(businesses,debt,solutions) [inferred]
(businesses,debt,spending) [inferred]
(businesses,debt,retailers) [inferred]
(businesses,debt,income) [inferred]
(businesses,debt,households) [inferred]
(businesses,debt,economy) [inferred]
(businesses,debt,stock) [inferred]
(businesses,debt,gdp) [inferred]

challenge (Read more)

As I will discuss, it builds up pressures within that system, drives inequality, brings price deflation and asset inflation, and leads to the amassing of debt that eventually slows growth.
Will we soon reach a limit on private debt to GDP. We are at or near the limit now, especially if rates trend higher, since with more debt, higher rates have a more damaging effect on the economy
High Level Abstractions:

(growth,inflation)
(debt,inflation)
Inferred entity relationships (2)
(debt,inflation,interest) [inferred]
(debt,inflation,spending) [inferred]

challenge (Read more)

During this time span, government debt has gone from 74 percent to 106 percent of GDP, but private sector debt has grown even faster, tripling from 54 percent to 150 percent. This debt level burdens individuals and small businesses and stultifies economic growth.
As both the government and American households and businesses use debt to fight the economic collapse caused by the pandemic, these debt ratios continue to spike
High Level Abstractions:

(economic,gdp)
(economic,gdp,growth)
Inferred entity relationships (11)
(gdp,growth,presumed) [inferred]
(gdp,growth,re-leveraging) [inferred]
(gdp,growth,vaulted) [inferred]
(gdp,growth,workers) [inferred]
(gdp,growth,textbooks) [inferred]
(gdp,growth,united_states) [inferred]
(economic,gdp) [inferred]
(economic,gdp,growth) [inferred]
(gdp,growth,private-sector) [inferred]
(gdp,growth,spending) [inferred]
(gdp,growth,world_war_ii) [inferred]

challenge (Read more)

This debt level burdens individuals and small businesses and stultifies economic growth.
As both the government and American households and businesses use debt to fight the economic collapse caused by the pandemic, these debt ratios continue to spike.
High Level Abstractions:

(collapse,gdp)

WIP (Read more)

By the end of 2021, these numbers could easily rise to over 160 percent and 140 percent, respectively, for a total of 300 percent or more of GDP.
This huge debt overhang portends an extended period of stagnant and ever slower economic growth with falling living standards for millions of debt-burdened households.
High Level Abstractions:

(debt,economic,gdp)
(economic,gdp)
(debt,growth,households)
(economic,gdp,growth)
(debt,economic,gdp,growth)
(gdp,households)
(debt,economic,growth,households)
(debt,gdp,households)
Inferred entity relationships (62)
(economic,growth,security) [inferred]
(economic,growth,trump) [inferred]
(debt,gdp,growth,workers) [inferred]
(economic,growth,textbooks) [inferred]
(gdp,growth,vaulted) [inferred]
(debt,gdp,growth,textbooks) [inferred]
(debt,economic,growth,workers) [inferred]
(debt,economic,growth,textbooks) [inferred]
(debt,gdp,growth,united_states) [inferred]
(debt,growth,textbooks) [inferred]
(gdp,growth,world_war_ii) [inferred]
(debt,gdp,united_states) [inferred]
(debt,gdp,growth,spending) [inferred]
(debt,economic,growth,inflation) [inferred]
(debt,gdp,world_war_ii) [inferred]
(debt,economic,growth,portends) [inferred]
(economic,growth,portends) [inferred]
(economic,growth,spending) [inferred]
(gdp,growth,presumed) [inferred]
(economic,growth,inflation) [inferred]
(economic,growth,households) [inferred]
(debt,gdp,vaulted) [inferred]
(economic,growth) [inferred]
(debt,growth,vaulted) [inferred]
(growth,households) [inferred]
(debt,gdp,textbooks) [inferred]
(debt,economic,gdp,growth) [inferred]
(economic,growth,investment) [inferred]
(economic,growth,product) [inferred]
(debt,gdp,spending) [inferred]
(debt,gdp,workers) [inferred]
(debt,gdp,growth,vaulted) [inferred]
(debt,growth,workers) [inferred]
(economic,growth,workers) [inferred]
(economic,growth,policies) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(gdp,growth,re-leveraging) [inferred]
(gdp,growth,workers) [inferred]
(gdp,growth,textbooks) [inferred]
(gdp,households) [inferred]
(debt,economic,growth,investment) [inferred]
(debt,economic,growth,spending) [inferred]
(gdp,growth,united_states) [inferred]
(economic,growth,pernicious) [inferred]
(economic,growth,positive) [inferred]
(debt,growth,world_war_ii) [inferred]
(debt,economic,gdp) [inferred]
(economic,growth,prioritize) [inferred]
(debt,gdp,growth,world_war_ii) [inferred]
(debt,gdp,growth,private-sector) [inferred]
(debt,economic,growth,pernicious) [inferred]
(debt,economic,growth,presumed) [inferred]
(economic,growth,presumed) [inferred]
(debt,growth,spending) [inferred]
(economic,gdp) [inferred]
(economic,gdp,growth) [inferred]
(gdp,growth,private-sector) [inferred]
(debt,economic,growth,households) [inferred]
(debt,gdp,growth,re-leveraging) [inferred]
(debt,growth,united_states) [inferred]
(gdp,growth,spending) [inferred]

WIP (Read more)

This is known as "deleveraging," and while modest deleveraging sometimes occurs, meaningful deleveraging to a level low enough to positively affect growth rates is truly rare.
The most often-cited example of a country "growing out of its high government debt" was the United States after World War II. From 1950 to 1980, U.S. government debt to GDP did indeed fall from 86 percent to 32 percent, but that was only possible because of a massive re-leveraging of the private sector, where private debt vaulted from 55 percent to 101 percent of GDP. Without that massive private-sector debt growth, the improvement in government debt would not have occurred
High Level Abstractions:

(debt,gdp,growth,vaulted)
(debt,deleveraging,gdp)
(debt,growth,world_war_ii)
(debt,gdp,growth,united_states)
(gdp,growth,re-leveraging)
(debt,growth,united_states)
(debt,gdp,world_war_ii)
(debt,growth,vaulted)
(deleveraging,gdp)
(gdp,growth,world_war_ii)
(debt,deleveraging,gdp,growth)
(growth,united_states)
(debt,gdp,growth,world_war_ii)
(debt,gdp,vaulted)
(growth,vaulted)
(gdp,growth,vaulted)
(growth,world_war_ii)
(gdp,world_war_ii)
(debt,gdp,united_states)
(gdp,growth,united_states)
(deleveraging,growth)
(debt,gdp,growth,re-leveraging)
Inferred entity relationships (38)
(debt,gdp,households) [inferred]
(debt,gdp,growth,workers) [inferred]
(gdp,growth,vaulted) [inferred]
(debt,gdp,growth,textbooks) [inferred]
(debt,gdp,growth,united_states) [inferred]
(debt,growth,textbooks) [inferred]
(gdp,growth,world_war_ii) [inferred]
(debt,gdp,united_states) [inferred]
(debt,gdp,growth,spending) [inferred]
(debt,gdp,world_war_ii) [inferred]
(growth,world_war_ii) [inferred]
(gdp,growth,presumed) [inferred]
(deleveraging,gdp) [inferred]
(growth,vaulted) [inferred]
(debt,gdp,vaulted) [inferred]
(debt,growth,vaulted) [inferred]
(debt,gdp,textbooks) [inferred]
(debt,gdp,spending) [inferred]
(debt,gdp,workers) [inferred]
(debt,gdp,growth,vaulted) [inferred]
(debt,growth,workers) [inferred]
(gdp,growth,re-leveraging) [inferred]
(gdp,growth,workers) [inferred]
(debt,growth,households) [inferred]
(gdp,growth,textbooks) [inferred]
(gdp,growth,united_states) [inferred]
(debt,deleveraging,gdp,growth) [inferred]
(debt,growth,world_war_ii) [inferred]
(debt,gdp,growth,world_war_ii) [inferred]
(debt,gdp,growth,private-sector) [inferred]
(debt,growth,spending) [inferred]
(gdp,growth,private-sector) [inferred]
(debt,deleveraging,gdp) [inferred]
(growth,united_states) [inferred]
(debt,gdp,growth,re-leveraging) [inferred]
(gdp,world_war_ii) [inferred]
(debt,growth,united_states) [inferred]
(gdp,growth,spending) [inferred]

WIP (Read more)

This is known as "deleveraging," and while modest deleveraging sometimes occurs, meaningful deleveraging to a level low enough to positively affect growth rates is truly rare.
The most often-cited example of a country "growing out of its high government debt" was the United States after World War II. From 1950 to 1980, U.S. government debt to GDP did indeed fall from 86 percent to 32 percent, but that was only possible because of a massive re-leveraging of the private sector, where private debt vaulted from 55 percent to 101 percent of GDP. Without that massive private-sector debt growth, the improvement in government debt would not have occurred.
High Level Abstractions:

(debt,gdp,growth,private-sector)
(gdp,growth,private-sector)
Inferred entity relationships (23)
(debt,gdp,households) [inferred]
(debt,gdp,growth,workers) [inferred]
(gdp,growth,re-leveraging) [inferred]
(debt,gdp,growth,textbooks) [inferred]
(gdp,growth,vaulted) [inferred]
(gdp,growth,workers) [inferred]
(gdp,growth,textbooks) [inferred]
(gdp,growth,united_states) [inferred]
(debt,gdp,growth,united_states) [inferred]
(gdp,growth,world_war_ii) [inferred]
(debt,gdp,united_states) [inferred]
(debt,gdp,growth,spending) [inferred]
(debt,gdp,growth,world_war_ii) [inferred]
(debt,gdp,world_war_ii) [inferred]
(gdp,growth,presumed) [inferred]
(debt,gdp,vaulted) [inferred]
(debt,gdp,textbooks) [inferred]
(gdp,growth,private-sector) [inferred]
(debt,gdp,spending) [inferred]
(debt,gdp,workers) [inferred]
(debt,gdp,growth,re-leveraging) [inferred]
(debt,gdp,growth,vaulted) [inferred]
(gdp,growth,spending) [inferred]

WIP (Read more)

Lower wages constrain spending further.
So how can we reduce the ratio of private sector debt to GDP.which is another way of asking how can we reduce the burden of debt on households and businesses in relation to their income.
Certain solutions have been regularly invoked
High Level Abstractions:

(growth,households)
(debt,gdp,households)
(businesses,debt,spending)
(businesses,debt,households)
(debt,gdp,spending)
(gdp,spending)
(businesses,debt,gdp)
Inferred entity relationships (29)
(businesses,debt,spending) [inferred]
(businesses,debt,retailers) [inferred]
(debt,gdp,households) [inferred]
(debt,gdp,growth,workers) [inferred]
(debt,gdp,growth,textbooks) [inferred]
(businesses,debt,stock) [inferred]
(gdp,households) [inferred]
(debt,spending,textbooks) [inferred]
(debt,gdp,growth,united_states) [inferred]
(gdp,spending) [inferred]
(businesses,debt,inventory) [inferred]
(businesses,debt,masse) [inferred]
(debt,gdp,united_states) [inferred]
(debt,gdp,growth,spending) [inferred]
(businesses,debt,solutions) [inferred]
(debt,gdp,growth,world_war_ii) [inferred]
(debt,gdp,world_war_ii) [inferred]
(debt,gdp,growth,private-sector) [inferred]
(businesses,debt,income) [inferred]
(businesses,debt,households) [inferred]
(debt,spending,workers) [inferred]
(businesses,debt,economy) [inferred]
(debt,gdp,vaulted) [inferred]
(businesses,debt,gdp) [inferred]
(debt,gdp,textbooks) [inferred]
(debt,gdp,spending) [inferred]
(debt,gdp,workers) [inferred]
(debt,gdp,growth,re-leveraging) [inferred]
(debt,gdp,growth,vaulted) [inferred]

WIP (Read more)

Since GDP is a measure of spending, it would bring a 4 percent collapse in GDP. That's precisely what happened from 1929 to 1933 in the Great Depression, when a collective 20 percent paydown in loans, brought on by banks forcing repayment of loans and borrowers paying down loans, caused GDP to collapse by 45 percent.
We can't grow our way out of the high private debt problem, we can't inflate our way out of it, and we can't pay it down.
So how can we reduce debt.
For private sector debt, the answer is: debt restructuring.
Debt restructuring is a modification of the terms of a loan that deals realistically with a borrower's ability to pay in times of distress
High Level Abstractions:

(debt,gdp,spending)
(collapse,debt,gdp)
(debt,paying,spending)
(debt,paydown,spending)
(debt,loan,spending)
Inferred entity relationships (18)
(debt,gdp,united_states) [inferred]
(debt,gdp,growth,spending) [inferred]
(debt,gdp,growth,world_war_ii) [inferred]
(debt,gdp,world_war_ii) [inferred]
(debt,gdp,households) [inferred]
(debt,gdp,growth,private-sector) [inferred]
(debt,gdp,growth,workers) [inferred]
(debt,gdp,growth,textbooks) [inferred]
(debt,gdp,vaulted) [inferred]
(debt,loan,student) [inferred]
(debt,gdp,textbooks) [inferred]
(debt,gdp,growth,united_states) [inferred]
(gdp,spending) [inferred]
(debt,gdp,spending) [inferred]
(debt,loan) [inferred]
(debt,gdp,workers) [inferred]
(debt,gdp,growth,re-leveraging) [inferred]
(debt,gdp,growth,vaulted) [inferred]

WIP (Read more)

An aggregate paydown of 5 percent of that debt would total $810 billion, and that would almost certainly come from an $810 billion-dollar reduction in spending
High Level Abstractions:

(gdp,paydown)
(debt,paydown,spending)

WIP (Read more)

Lower wages constrain spending further.
So how can we reduce the ratio of private sector debt to GDP.which is another way of asking how can we reduce the burden of debt on households and businesses in relation to their income.
Certain solutions have been regularly invoked.
High Level Abstractions:

(businesses,debt,income)
(debt,solutions,spending)
(businesses,debt,solutions)
Inferred entity relationships (11)
(businesses,debt,inventory) [inferred]
(businesses,debt,masse) [inferred]
(businesses,debt,solutions) [inferred]
(businesses,debt,spending) [inferred]
(businesses,debt,retailers) [inferred]
(businesses,debt,income) [inferred]
(businesses,debt,households) [inferred]
(businesses,debt,economy) [inferred]
(businesses,debt,stock) [inferred]
(businesses,debt,gdp) [inferred]
(debt,solutions,spending) [inferred]

WIP (Read more)

Constrained growth suppresses wages. Lower wages constrain spending further.
So how can we reduce the ratio of private sector debt to GDP.which is another way of asking how can we reduce the burden of debt on households and businesses in relation to their income.
Certain solutions have been regularly invoked
High Level Abstractions:

(debt,growth,spending)
Inferred entity relationships (7)
(debt,growth,households) [inferred]
(debt,growth,vaulted) [inferred]
(debt,growth,textbooks) [inferred]
(debt,growth,world_war_ii) [inferred]
(debt,growth,workers) [inferred]
(debt,growth,united_states) [inferred]
(growth,spending) [inferred]

WIP (Read more)

It's no coincidence that our highest growth decades since World War II came when households had their lowest debt service burden. The debt payment ratio story is similar for business.
This is the vicious dynamic at the heart of Middle America's financial distress: Higher debt curbs spending, which constrains growth
High Level Abstractions:

(debt,growth,households)
(debt,growth,world_war_ii)
Inferred entity relationships (9)
(debt,growth,households) [inferred]
(debt,growth,vaulted) [inferred]
(growth,households) [inferred]
(debt,growth,spending) [inferred]
(growth,world_war_ii) [inferred]
(debt,growth,textbooks) [inferred]
(debt,growth,world_war_ii) [inferred]
(debt,growth,workers) [inferred]
(debt,growth,united_states) [inferred]

WIP (Read more)

By the end of 2021, these numbers could easily rise to over 160 percent and 140 percent, respectively, for a total of 300 percent or more of GDP.
This huge debt overhang portends an extended period of stagnant and ever slower economic growth with falling living standards for millions of debt-burdened households
High Level Abstractions:

(debt,economic,growth,portends)
(economic,growth,portends)
Inferred entity relationships (28)
(economic,growth,policies) [inferred]
(economic,growth,security) [inferred]
(economic,growth,trump) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,growth,textbooks) [inferred]
(debt,economic,growth,investment) [inferred]
(debt,economic,growth,spending) [inferred]
(debt,economic,growth,workers) [inferred]
(debt,economic,growth,textbooks) [inferred]
(economic,growth,pernicious) [inferred]
(economic,growth,positive) [inferred]
(debt,economic,gdp) [inferred]
(economic,growth,prioritize) [inferred]
(debt,economic,growth,inflation) [inferred]
(economic,growth,portends) [inferred]
(economic,growth,spending) [inferred]
(debt,economic,growth,pernicious) [inferred]
(economic,growth,inflation) [inferred]
(debt,economic,growth,presumed) [inferred]
(economic,growth,households) [inferred]
(economic,growth,presumed) [inferred]
(economic,growth) [inferred]
(debt,economic,gdp,growth) [inferred]
(economic,growth,investment) [inferred]
(economic,growth,product) [inferred]
(debt,economic,growth,households) [inferred]
(economic,growth,workers) [inferred]

WIP (Read more)

In the cases just discussed, the lender bears the direct cost of debt forgiveness. In the aftermath of the Great Recession, there were so many troubled loans that forgiving them in many instances would have caused those lenders to fail
High Level Abstractions:

(cost,debt)
(debt,great_recession)
Inferred entity relationships (2)
(debt,great_recession,growth) [inferred]
(cost,debt,investors) [inferred]

WIP (Read more)

In a country in which the Federal Reserve reports that four in ten adults would have difficulty covering an unexpected $400 expense, unplanned medical expenses and surprise medical bills can begin a debt chain reaction that puts a household in arrears on credit cards, auto loans, student loans, mortgages, and other debt, trapping them in a blizzard of late fees and collector calls and adding unbearable stress to their lives
High Level Abstractions:

(debt,medical)
(debt,federal_reserve,student)
(debt,medical,student)
(debt,student,unplanned)
(debt,mortgages,student)
(debt,household,student)
Inferred entity relationships (2)
(debt,medical) [inferred]
(debt,medical,student) [inferred]

WIP (Read more)

The issue is so acute that some simply postpone needed medical procedures, which compounds their medical problems and increases future medical costs.
I propose a straightforward solution: a means-tested program whereby individuals with less than $75,000 in household income could apply for the government to reimburse them for any debt incurred for a select number of critical health-care expenses, including select procedures for diabetes, cancer, and heart disease.
Better yet, the government could introduce an overall catastrophic health insurance plan as part of an expanded health-care initiative, whereby people not otherwise covered for a select set of procedures would be covered, and people who are covered could have their deductibles reimbursed.
These are three powerful and programmatic approaches to debt jubilees
High Level Abstractions:

(debt,medical)
Inferred entity relationships (1)
(debt,medical,student) [inferred]

WIP (Read more)

We can expand it by making it available to those who do not work in the not-for-profit sector if they do substantial volunteer work for a qualified not-for-profit institution.
I propose that if a student debt holder with a job in the private sector has made payments for 90 consecutive months, and also done volunteer community service for an approved government or not-for profit organization for 1,000 hours, then the remaining balance of that student's loan would be forgiven
High Level Abstractions:

(debt,not-for-profit)
(debt,not-for,student)
(debt,expand,student)
(debt,not-for-profit,student)
(debt,service,student)
(debt,profit,student)
Inferred entity relationships (2)
(debt,not-for-profit,student) [inferred]
(debt,not-for-profit) [inferred]

WIP (Read more)

We can expand it by making it available to those who do not work in the not-for-profit sector if they do substantial volunteer work for a qualified not-for-profit institution.
I propose that if a student debt holder with a job in the private sector has made payments for 90 consecutive months, and also done volunteer community service for an approved government or not-for profit organization for 1,000 hours, then the remaining balance of that student's loan would be forgiven.
High Level Abstractions:

(debt,loan,student)
Inferred entity relationships (2)
(debt,loan) [inferred]
(debt,loan,spending) [inferred]

WIP (Read more)

If they raise equity and pay a dividend on that equity, they don't get a favorable tax deduction for that dividend payment, while the recipient of that dividend does pay tax, giving rise to the complaint of double taxation.
Thus, the tax code itself creates at least some bias toward the use of debt over equity and is at least part of the reason that leverage increasingly gets used to finance acquisitions of assets and other companies
High Level Abstractions:

(debt,dividend)
(debt,equity)

WIP (Read more)

People use debt to purchase cars, houses, and other major assets. Businesses such as supermarkets and retailers regularly use debt for their ongoing need to stock inventory.
High Level Abstractions:

(businesses,debt,stock)
(businesses,debt,retailers)
(businesses,debt,inventory)
Inferred entity relationships (10)
(businesses,debt,inventory) [inferred]
(businesses,debt,masse) [inferred]
(businesses,debt,solutions) [inferred]
(businesses,debt,spending) [inferred]
(businesses,debt,retailers) [inferred]
(businesses,debt,income) [inferred]
(businesses,debt,households) [inferred]
(businesses,debt,economy) [inferred]
(businesses,debt,stock) [inferred]
(businesses,debt,gdp) [inferred]

WIP (Read more)

If they had the resources to pay debt down, they wouldn't have incurred the debt in the first place. But the second reason is more important: If consumers and businesses paid down debt en masse, it would crush the economy.
High Level Abstractions:

(businesses,debt,masse)
(businesses,consumers,debt)
Inferred entity relationships (10)
(businesses,debt,inventory) [inferred]
(businesses,consumers) [inferred]
(businesses,debt,solutions) [inferred]
(businesses,debt,spending) [inferred]
(businesses,debt,retailers) [inferred]
(businesses,debt,income) [inferred]
(businesses,debt,households) [inferred]
(businesses,debt,economy) [inferred]
(businesses,debt,stock) [inferred]
(businesses,debt,gdp) [inferred]

WIP (Read more)

And there is no guarantee that it will work. During our country's one recent major bout with inflation, from 1973 to 1982, total debt levels actually increased from 128 percent to 136 percent of GDP.
Furthermore, central banks have shown, over the last decade, that they may not even know how to create inflation
High Level Abstractions:

(debt,inflation)
Inferred entity relationships (2)
(debt,inflation,interest) [inferred]
(debt,inflation,spending) [inferred]

WIP (Read more)

We already have evidence that issuing this type of money in controlled amounts does not create inflation. We know this from the Civil War example, where for almost the entire period in which greenbacks were in circulation and unconvertible, inflation was negative 3.5 percent.
The key to avoiding inflation with Perpetuals may come down to volume and scale
High Level Abstractions:

(greenbacks,inflation)

WIP (Read more)

It may very well be a linear relationship: the more non-debt-based money, the more inflation. Low amounts of something like greenbacks or Perpetuals would result in little if any inflation; medium amounts.say, 25 percent to 75 percent of GDP.would bring moderate inflation, and high amounts.say, 100 percent of GDP for several consecutive years.would bring high inflation
High Level Abstractions:

(greenbacks,inflation)

WIP (Read more)

An aggregate paydown of 5 percent of that debt would total $810 billion, and that would almost certainly come from an $810 billion-dollar reduction in spending. Since GDP is a measure of spending, it would bring a 4 percent collapse in GDP. That's precisely what happened from 1929 to 1933 in the Great Depression, when a collective 20 percent paydown in loans, brought on by banks forcing repayment of loans and borrowers paying down loans, caused GDP to collapse by 45 percent.
We can't grow our way out of the high private debt problem, we can't inflate our way out of it, and we can't pay it down.
So how can we reduce debt.
For private sector debt, the answer is: debt restructuring.
Debt restructuring is a modification of the terms of a loan that deals realistically with a borrower's ability to pay in times of distress
High Level Abstractions:

(gdp,spending)
(collapse,gdp)

WIP (Read more)

To help fund the Civil War, Congress authorized the issuance of $450 million in new bills, which came to be known as "greenbacks." It was a significant amount, totaling more than 5 percent of GDP and 14 percent of the cost of the Civil War, given that GDP reached over $8 billion and the total cost of the war was $3.3 billion
High Level Abstractions:

(cost,gdp)
(civil_war,gdp)

WIP (Read more)

By the end of 2021, these numbers could easily rise to over 160 percent and 140 percent, respectively, for a total of 300 percent or more of GDP.
This huge debt overhang portends an extended period of stagnant and ever slower economic growth with falling living standards for millions of debt-burdened households. This is not another broadside against government spending and call for austerity.far from it.
High Level Abstractions:

(economic,growth,spending)
(growth,spending)
Inferred entity relationships (18)
(economic,growth,policies) [inferred]
(economic,growth,security) [inferred]
(economic,growth,prioritize) [inferred]
(economic,growth,trump) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,portends) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,growth,textbooks) [inferred]
(economic,growth,inflation) [inferred]
(economic,growth,households) [inferred]
(economic,growth,presumed) [inferred]
(economic,growth) [inferred]
(economic,growth,investment) [inferred]
(economic,growth,pernicious) [inferred]
(economic,growth,product) [inferred]
(economic,growth,positive) [inferred]
(economic,growth,workers) [inferred]
(growth,spending) [inferred]

WIP (Read more)

The debt payment ratio story is similar for business.
This is the vicious dynamic at the heart of Middle America's financial distress: Higher debt curbs spending, which constrains growth. Constrained growth suppresses wages. Lower wages constrain spending further.
So how can we reduce the ratio of private sector debt to GDP.which is another way of asking how can we reduce the burden of debt on households and businesses in relation to their income.
Certain solutions have been regularly invoked
High Level Abstractions:

(growth,spending)

WIP (Read more)

By the end of 2021, these numbers could easily rise to over 160 percent and 140 percent, respectively, for a total of 300 percent or more of GDP.
This huge debt overhang portends an extended period of stagnant and ever slower economic growth with falling living standards for millions of debt-burdened households. This is not another broadside against government spending and call for austerity.far from it
High Level Abstractions:

(growth,households)
(economic,growth,households)
Inferred entity relationships (18)
(economic,growth,policies) [inferred]
(economic,growth,security) [inferred]
(economic,growth,prioritize) [inferred]
(economic,growth,trump) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,portends) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,growth,spending) [inferred]
(economic,growth,textbooks) [inferred]
(economic,growth,inflation) [inferred]
(economic,growth,presumed) [inferred]
(economic,growth) [inferred]
(growth,households) [inferred]
(economic,growth,investment) [inferred]
(economic,growth,pernicious) [inferred]
(economic,growth,product) [inferred]
(economic,growth,positive) [inferred]
(economic,growth,workers) [inferred]

Target rule match count: 145.0 Challenge: 0.24 Momentum: 0.01 WIP: 0.25