Chart Of The Day: The "New Normal" Trade Off - Debt vs Jobs

Zerohedge ^ | 10/08/2012 | Tyler Duden

[Snuph]

What one can also see is that the public cost of "normalization", aka the Trade Off of the new normal is an additional $4.25 trilion in debt over and above where the previous historic trendline would put total US debt, just under $12 trillion. Instead total debt is now $16.2 trillion. Oddly enough, this translates to precisely $1,000,000 per job gained or saved from the first (and certainly not last) post-crisis trough: yet another fact that will not be mentioned in either the mainstream press or any presidential debate, as sadly trading off record amounts of public debt for new jobs is the only game left in town for either party.

[TheWriterTX]

Folks really need to understanding the following to fully accept what is happening:

ZIRP (Zero Interest Rate Program) trap

Long-wave contraction

Without it, they will cling to the hope that Romney can turn this mess around. He can't. We are too far down the road. All he can do is position America to weather the rest of the economic storm.

[Snuph]

agreed.

Given what has been done so far the best we can hope for is to be no worse than Japan’s last 22 years. However Japan’s dept was mostly owned by its citizens.