Today the total US debt to GDP is approx 425%.

From Marketoracle.co.uk

The question is, can this debt reach 100% of GDP at around $13 trillion. Putting things into context…before the Great Depression in 1929 the US Govt debt was only 15% of GDP! To make matters even worse, the US in 1929 was a creditor nation. Today the US is a debtor nation. Comparing the current situation to the situation prior to the Great Depression total US debt (individual, business,local, state and federal) was approx 170% of GDP.

Today the total US debt to GDP is approx 425%.

Could the US ,the UK as well as the rest of the world be entering a crisis worse than the Great Depression? I state this because of the amount of debt that in all reality can not be paid back. I am not even mentioning all the trillions of derivatives floating around, that are virtually WORTHLESS! Can the situation really get worse because the whole world is in the same boat? The interwining of the global economy is unprecedented in world history.

I believe in real assets. I have never heard of any country has ever solved a credit crisis by printing more money. When countries print money…eventually inflation ( the wealth destroyer) raises it ugly head. We saw first hand in 1998 Debt Deflation in East Asia brought on tremendous inflation. Nothing ever changes.