The Survival Economist
Premiered June 12, 2021
The US budget deficit was ~ 18% for 2020 and is estimated to be about the same in 2021. The average budget deficit in 2020 for countries in the EU was 8.5%.
After the end of this year the US debt/ gdp will be around 140% , double the 2008 number and is exceeded only by Italy, Greece and Japan among major industrialized countries.
In 2020 the US dollar was down over 5%.
The US easily leads the world in the amount of trade deficits at north of 650 billion.
The US might have been considered the “cleanest shirt” in the past. That is no longer the case.It us now among the dirtiest of shirts.
The Feds policies has created massive distortions in ALL markets. It along with the Federal government has resulted in the second highest GINI coefficient( a measure of income inequality) in US history , exceeded only by a short period in the 1920s . We are dependent on the government for 34% of income. By any standards the middle class which has distinguished the US from other countries in the past is at the lowest level in decades.
We have the highest % of low income and low wealth and the highest % of high income and high wealth groups in many decades.
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