KW: As Trump goes about proclaiming his policies of tarrifs on any country that he wishes to tarrif with jobs and dollars flowing back into the country (According to Trump, “tariffs have put the U.S. in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country – and yet cost increases have thus far been almost unnoticeable. If countries will not make fair deals with us, they will be ‘Tariffed!'”) Remember, as President Trump prepares to slap tariffs on another $200 billion in Chinese goods entering the US (tariffs that, as Deutsche Bank recently pointed out, will likely have a material impact on US supply chains and consumers, particularly when China retaliates)…does he ignore or is ignorant of the elephant in the room? SOme commentaries argue that it’s not just the $21 trillion of recognised debt but actuaqlly the figure is twice that at over $42 trillion, money stacked away in dark pools to be used to see off the next crisis of confidence. Stockman remains anchored to his position that it will all blow sooner or later.

“…global leverage has gone from 1.3 times which is stable… to 3.3 times, which basically means the world has created a huge temporary prosperity by burying itself in debt.”

Source: David Stockman Exposes The “$20 Trillion Elephant In The Room” | Zero Hedge