The Falling Marginal Productivity of Debt

However, we can look at how much additional GDP is added for each newly-borrowed dollar. This is called marginal productivity of debt. This shows a clear picture, a secular decline over many decades. To produce this graph, take change in GDP divided by change in debt.

I encourage you to read: https://monetary-metals.com/falling-productivity-of-debt-gold-and-silver-report-15-oct-2017/

Add to the above this concerning article on the lack of US savings:

https://www.project-syndicate.org/commentary/america-low-saving-rate-weak-fundamentals-by-stephen-s-roach-2018-02

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