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Chart du Jour: What deleveraging?
The charts below, courtesy of Bianco Research (via The Big Picture), show U.S. private, government and total debt in both nominal terms (top graph) and as a percentage of GDP (bottom graph). In short, the deleveraging process still has a long way, and could cause a headwind for economic growth for many years to come. (Please note that the right-hand axis on the bottom chart should read “% of GDP” instead of “Trillions of dollars”.) Click on the images below for larger charts.
Source: Bianco Research (via The Big Picture), December 29, 2011. More on this topic (What's this?) Yahoo! Launches New Browser ‘Axis’, and Shoots Itself in the Foot (Value Investing, 5/24/12) Elliott Management Buys Axis (HedgeFundBlogger.com by Richard ..., 3/27/15) Ray Dalio: US Has Done a “Beautiful” Job Deleveraging (The Contrary Investing Report, 6/7/12)  |
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)  (requires Windows Media Player) 
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By Prieur du Plessis, on December 30th, 2011 posted in: 
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