Engineer

The Most Misunderstood Chart of All Time

Great observation Tim.

I think the other interesting thing this graph shows, is that in effect, the productive capability of the nation is more and more flowing to debt since money became fiat.

It is also interesting to see in this graph that post-fiat recessions (early 1980s, 1990s and 2000s) are mere blips compared to the 1930s.

I think this trend ends up in one of two places: you hit a theoretical max and oscillate about this max, or have hyperinflation and all debts are cleared.