The crux of our predicament is we have outstanding consumer, corporate and government debt of $6.00 for every $1.00 of profits, wages and interest and dividend income. The productivity of all this debt in terms of economic is too minimal. We need to reverse this debilitating relation of debt to income or suffer the consequences, which could be severe.
MPD–the marginal productivity of debt- all debt that is– consumer, corporate and government– is producing less and less of national income– wages, profits,and interest income. MPD is suffocating growth.
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