Mike Maloney -- Here Comes The Next Great Depression

"The only thing that is expanding in debt - is government debt. This is a very dangerous situation, the larger government grows compared to the GDP the more frictional jobs there are in an economy that don't produce goods and services that you and I buy. That basically extinguishes economic energy, it brings about LESS prosperity, not more."


"The only thing that is expanding in debt - is government debt. This is a very dangerous situation, the larger government grows compared to the GDP the more frictional jobs there are in an economy that don't produce goods and services that you and I buy. That basically extinguishes economic energy, it brings about less prosperity, not more."

- Mike Maloney, January 20 2014