The essay below is excerpted from the December 2011 issue of Stansberry’s Investment Advisory. Its author, Porter Stansberry, examines the question of whether America is growing richer or poorer based on an analysis of its per-capita gross domestic product (GDP). Said simply, is our economy growing faster than our population? As individuals, are we becoming more affluent? Or is the economic pie, measured on a per-person basis, growing smaller? It’s a hard question to answer, and this article provides Porter Stansberry’s insight.
I was stunned by the level of credit card debt of older Americans.