by Steve St. Angelo
There is one chart that should deeply concern most Americans and the U.S. Federal Government. While most analysts and economists are concerned about the rising U.S. Debt to GDP or the skyrocketing Public Debt, there is another indicator that is far more worrisome. Unfortunately, I haven’t seen one economist even mention this fundamental indicator.
Why? Well, it seems as if most economists look at the world without ever considering the number one driver… ENERGY. Thus, Economics 101 taught in most universities fails to incorporate energy into the equation. Therefore, as I have stated over and over, everyone seems to believe in the ENERGY TOOTH FAIRY.
First, let’s start with this dismal chart, which should scare the heck out of most Americans. This is the Total Public Debt from all sectors as of Q1 2020, from the St. Louis Federal Reserve: