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Us To Have $60,000 Trillion (That's 60 Quadrillion) Of Debt Outstanding In 100 Years

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http://market-ticker.org/akcs-www?post=188993

Notice that the percentage of debt service (in terms of GDP) increases every single year.

Now I want you to take the 100 years of data and insert a graph on the first three columns.

It looks like this:

The absurdity of believing that the United States can have $60,000 trillion (that's 60 quadrillion) of debt outstanding in 100 years is, well, beyond stupid. That's more than one thousand times as much debt as is outstanding right now.

Denniger playing with Excel.

Still I'm sure that by this point the US economy will have grown.....

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i guess 30 odd years ago, $14 trillion of debt would have been seen as abusrd?

http://www.quotationspage.com/quote/26930.html

There are 10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.

Richard Feynman

US educator & physicist (1918 - 1988)

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If the debt was not "national" it would be "personal". Money is created as debt. No debt, no money.

The way our society accepts this enormous contradiction is just insane!

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If the debt was not "national" it would be "personal". Money is created as debt. No debt, no money.

The way our society accepts this enormous contradiction is just insane!

There isn't an alternative, apart from bitcoin!

LOL.

Debt free money is a sad myth.

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http://market-ticker.org/akcs-www?post=188993

Denniger playing with Excel.

Still I'm sure that by this point the US economy will have grown.....

Its not stupid at all if you extrapolate current trends.

The reality is that in 100 years the economy will be mainly equity based rather than debt based, which means in turn that there will be a lot less focus on what things are 'worth', which is an unhealthy obsession anyway.

A medium of exchange will still be required which must be based on debt but basing it on short term debt would be sufficient, no more than say 5 years maturity.

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Since founding in 1770's America's debt has doubled every decade in nominal terms. There have been 23 doublings.. which you get a really big number.. aka 10 trillion dollars. Next stop 20 trillion, then in the 2020's, 40 trillion.

The population of America has grown from 3 million to 300 million in those 23 decades. The real gdp per capita has increased by a factor of between 10 and 100. Together thats between a 1,000 and a 10,000 times increase in real gdp.

My own guestimate is that America's GDP will grow by 10 times during the century to 2100. ...2.4% growth a year is all it takes.

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Its not stupid at all if you extrapolate current trends.

The reality is that in 100 years the economy will be mainly equity based rather than debt based, which means in turn that there will be a lot less focus on what things are 'worth', which is an unhealthy obsession anyway.

A medium of exchange will still be required which must be based on debt but basing it on short term debt would be sufficient, no more than say 5 years maturity.

you dont see a default risk here?

And, having a thing for exchange does not indebt the owner of the thing.

Selling means of exchange at interest ( lending) is where the debt comes in.

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If the debt was not "national" it would be "personal". Money is created as debt. No debt, no money.

The way our society accepts this enormous contradiction is just insane!

It's not a contradiction. Obviously if you have a credit note then that implies that someone, somewhere owes you.

The alternative is to directly barter assets or have an asset based currency where the currency itself has intrinsic value - Gold being the obvious example.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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