Epstein Secrets

0 1995 Note: Housing includes purchase, rent and home improvement. Government savings occur when government runs a surplus. Ta Source: BEA, CMS via Haver Analytics. < kpcb.com USA Inc. | Summary CB www.kpcb.com USA Inc. xvii HOUSE_OVERSIGHT_020840 With these trends, USA Inc. will not be immune to the sudden c

) showed Federal revenue sufficient to support entitlement spending + interest payments until ZOG0E — 35 years later than current projection. Note: *Carmen Reinhart and Kenneth Rogoff observed from 3,700 historical annual data points from 44 countries that the relationship between government debt and real GDP gr

a TE - S Note: Housing includes purchase, rent and home improvement. Government savings occur when government runs a surplus. KP Source: BEA, CMS via Haver Analytics. (@E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 408 HOUSE_OVERSIGHT_021045 USA Income Taxes Higher, Consumption Taxes Lower

aBaNAGAANANA OG AA 1 1 6 7 1 2 4 3 1 1 3 1 2 1 1 2 1 0 1 1 0 2 0 Top 1-25 Global $32,438 $47,081 -3% 81% $2,790 34,632 57,937 -2 100 2,885 Note: “Carmen Reinhart and Kenneth Rogoff observed from 3,700 historical annual data points from 44 countries that the relationship between government debt and real GDP gro

Is Different: Eight Centuries of Financial Folly, Carmen Reinhart and Kenneth Rogoff use historical data from 66 co

the future. Correlation 0.25 0.20 5 015 4 014 0.10 - 0.05 - 0.00 Since 1957 Since 1970 Data through 03 2016. Source: Investment Strategy Group, Haver Analytics, Olivier Blanchard, “Three Remarks About the US Treasury Yield Curve,” Peterson Institute for International Economics, June 22, 2016. We have examin