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A Review of The Price of Tomorrow — Why Deflation is the Key to an Abundant Future by Jeff Booth
The world is at a crossroads. Our entire global economic system is built on assumptions of growth that are entirely untethered from any sense of reality— and all of the growth that has been made has required a massive expansion of debt and credit while also causing staggering inflation that has crushed the middle and lower classes (well, what’s left of them). As Jeff Booth notes:
In 2000, the total debt in the world was approximately $62 trillion [USD]. At the same time, the world economy in 2000 was about $33.5 trillion [USD]. Since 2000, the world economy has grown to over $247 trillion [USD] as of the third quarter of 2018, according to the Institute of International Finance. In other words, it has taken approximately $185 trillion of global debt to achieve $46 trillion of global growth…The mirage of growth today is nothing more than a debt-fueled spending binge.
