With the Internet, like most everything else, the good and the bad stand before you. You must decide.
Sometimes the bad of the Internet is baneful stupidity spread by Financial End Times preachers. Spewing populist sermons from their blogger pulpits, these deliverance preachers promise to guide their flocks through Financial Armageddon. Such Financial End Times preachers are fond of fleecing their flocks with sales of their numerous books of revelation.
These Financial End Times preachers claim the financial apocalypse is always about to happen soon. They claim to have the gift of financial prophecy. For them, their Satan, their evil foe is the supposed Financial New World Order.
One of the more insidious sermons often preached is how "the debt is going to explode in our faces." These preachers breathe fiery sermons of brimstone and treacle, that devil-spawn bankers and corrupted law givers have engaged in such financial evils that a price must be paid to set things aright.
Reality of course is far different from superstition.
The Greenspan-Bernanke Great Inflation, the biggest credit bubble in the history of mankind led to peak GDP. After the Greenspan-Bernanke Great Inflation blew up, deflation started. We're only seeing signs now of banking deflation stopping.
First under Bernanke and then under Yellen, central bankers have masked that deflation with what they call Quantitative Easing. And that is the whole point of Quantitative Easing. Quantitative Easing makes everyone believe that prices they look upon with their eyes are at least the same as before if not slightly higher.
If you were to ask almost everyone you were to meet if prices of things are up or down in their supermarkets and elsewhere, they would tell you that prices are up. Of course, as all prices get quoted in dollars, dollar prices are up.
However, once you look at prices in True Dollars™, you would find that true prices are down for almost everything.
Credit isn't any different. Credit is up in current dollars. Since credit is the flip side of debt, debt is up in current dollars. Populist end times financial preachers point to current dollar charts of debt and have their flock believing locusts are about ready to swarm.
However, in True Dollars™, credit is down and thus so is debt, for everyone. So let's have a look.
Where do the women and men of Congress stand with their debt? Congress debt has fallen to true GDP peak-approaching 2007 levels.
What about the law givers of the various states and counties and municipalities?
What does the debt position of financial firms look like?
Where are the non-financial corporations?
Where are the non-financial businesses not incorporated?
And what about individuals, where do households stand these days on debt?
As you can see from the table below, that all parties of the economy have been reducing their true debt, their debt tallied in True Dollars™.
Unlike the populist financial end times preachers as well as those other superstition lot, the academia economist preachers, I give you to scientific reality. You won't find anywhere else on the Internet, my charts, all of which correspond to the reality everyone experiences daily.