Interactive chart of historical data comparing the level of gross domestic product (GDP) with 1) Total US Credit Market Debt and 2) Federal Debt. The ratio using federal debt is the more traditional measurement, but the total credit market debt is a better comparison since GDP is a product of both public and private output, hence both public and private debt should be used as a numerator.
Data Sources: BEA, Federal Reserve
Click and drag in the plot area or select dates:Last 12 Months |
5 Years |
10 Years |
20 Years |
30 Years |
Compares the annual dollar growth in total new debt (public and private) against the S&P 500 level. This chart illustrates how the 2003-2007 market rally benefited from massive new debt creation, peaking at roughly $4.7 trillion annually in December of 2007. Each series is adjusted for inflation via the headline CPI and smoothed using a 3-month moving average.
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