Monkey Posted July 29, 2011 Report Share Posted July 29, 2011 http://usdebt.kleptocracy.us/ thats alot of printing. lucky its all 1's and 0's on a computer screen Quote Link to post Share on other sites
Downside Posted July 29, 2011 Report Share Posted July 29, 2011 http://usdebt.kleptocracy.us/ thats alot of printing. lucky its all 1's and 0's on a computer screen Good thing it is computer printed as if they had to issue notes there would be some serious deforestation going on! Quite scary when you look at how massive the dept is in picture format. Quote Link to post Share on other sites
JustAnotherProle Posted July 29, 2011 Report Share Posted July 29, 2011 I prefer to be entranced by the numbers live, sit back and enjoy...debt LIVE! http://www.usdebtclock.org/index.html Quote Link to post Share on other sites
JaneTracy Posted July 29, 2011 Report Share Posted July 29, 2011 It is all looking even more unaffordable after the latest US economic growth figures. From twitter. Poor 2nd quarter US GDP figures should have been expected the surprise was that the 1st quarter was revised down to 0.4% on annualised data............So a very week set which should at 0.325% and 0.1% GDP growth in the last two quarters shows the US as in fact worse off than the UK! @notayesmansecon Quote Link to post Share on other sites
winkie Posted July 29, 2011 Report Share Posted July 29, 2011 (edited) I prefer to be entranced by the numbers live, sit back and enjoy...debt LIVE! http://www.usdebtclock.org/index.html Wow....can that continue forever? Edited July 29, 2011 by winkie Quote Link to post Share on other sites
Gigantic Purple Slug Posted July 29, 2011 Report Share Posted July 29, 2011 It doesn't make any sense to look at the pile of debt and think "wow that's huge" in the context of most peoples experience. Yes the debt pile is huge. But the GDP of the US is also huge compared with the paltry savings of most individuals. So is the number of people in the US (300 odd million) compared with the average number in a family. The debt only takes on context when viewed wrt to the productivity. To make it stand alone and say "here's" the debt, now imagine your resources next to this (which is the general idea)" make it look huge, but it isn't telling you anything useful about whether it is sustainable and whether the country has the ability to pay it back. The number of atoms in a litre of petrol is pretty huge, but just because I have a litre of petrol doesn't mean I have an amazing amount of the stuff (or at least in human terms it doesn't). Quote Link to post Share on other sites
winkie Posted July 29, 2011 Report Share Posted July 29, 2011 Well at least the mortgage debt is going down....... Surely you can have as much debt as you like or even increasing debt but it has to be counterbalanced with income...not just enough to cover the interest but also to reduce the principle when it becomes due. Quote Link to post Share on other sites
Executive Sadman Posted July 29, 2011 Report Share Posted July 29, 2011 (edited) It is all looking even more unaffordable after the latest US economic growth figures. From twitter. @notayesmansecon So a very week set which should at 0.325% and 0.1% GDP growth in the last two quarters shows the US as in fact worse off than the UK! The one good thing about this is that the hideous Ed Balls creature kept going on about how the great Obamas massive spending stimulus was in lifting the US out of recession, and the Koalishuns harsh cutbacks meant our 'recovereh' would be slower. Its called demand destruction Ed, you gold-selling moron. Edited July 29, 2011 by Sadman Quote Link to post Share on other sites
Olebrum Posted July 29, 2011 Report Share Posted July 29, 2011 Shame they don't offer a comparison with the Derivatives Mountain we are expected to foot the bill for. Quote Link to post Share on other sites
'Bart' Posted July 30, 2011 Report Share Posted July 30, 2011 Yes the debt pile is huge. But the GDP of the US is also huge The Total US Debt To GDP Ratio Is Now Worse Than In The Great Depression Fed Expects GDP to Slow, Total Debt to GDP to Breach 100% Also: David Rosenberg: U.S. GDP Overstated Also I would suggest that the debt itself is understated. From the 2006 movie "I.O.U.S.A.": Some people think that we can solve our financial problems by stopping fraud, waste and abuse or by canceling the Bush tax cuts or by ending the war in Iraq. The truth is, we can do all three of these things and we would not come close to solving our nation's fiscal challenges.Here's how bad our situation really is -- we already have approximately $11 trillion in total liabilities, including public debt. To this amount, you need to add the current unfunded obligations for social security benefits of about $7 trillion. Then add Medicare's unfunded promises, $34 trillion, of which about $26 trillion relates to Medicare parts A and B and about $8 trillion relates to Medicare part D, the new prescription drug benefit which some claimed would save money in overall Medicare costs. Add another trillion dollars of miscellaneous items, and you get $53 trillion. Our country would need $53 trillion invested today, which is about $175,000 per person, to deliver on government's obligations and promises. How much of this $53 trillion do we have? Zip. By the time today's college graduates are ready to retire, 40 years from now, the only things our government will be able to pay for are interest on the Federal debt and some social security, Medicare, Medicaid benefits. All other parts of the Federal government will be closed and out of business. Source of that quotation is David M. Walker, former comptroller general of the United States for 10 years. http://www.youtube.com/watch?v=Mkg2bzSXfJs 53 trillion is about 3.5 times the biggest pile of debt shown in those pictures. The official debt figure is expected to be pushing $20 trillion by 2015: U.S debt to rise to $19.6 trillion by 2015 U.S. GDP in 2010 was $14.7 trillion. Quote Link to post Share on other sites
Gigantic Purple Slug Posted July 30, 2011 Report Share Posted July 30, 2011 The Total US Debt To GDP Ratio Is Now Worse Than In The Great Depression Fed Expects GDP to Slow, Total Debt to GDP to Breach 100% Also: David Rosenberg: U.S. GDP Overstated Also I would suggest that the debt itself is understated. From the 2006 movie "I.O.U.S.A.": Source of that quotation is David M. Walker, former comptroller general of the United States for 10 years. http://www.youtube.com/watch?v=Mkg2bzSXfJs 53 trillion is about 3.5 times the biggest pile of debt shown in those pictures. The official debt figure is expected to be pushing $20 trillion by 2015: U.S debt to rise to $19.6 trillion by 2015 U.S. GDP in 2010 was $14.7 trillion. Some good points - a lot of this is more useful in understanding the issues than gazing at pictures of big piles of notes, which is simply doomster porn. Quote Link to post Share on other sites
interestrateripoff Posted July 30, 2011 Report Share Posted July 30, 2011 Debt is wealth. Quote Link to post Share on other sites
winkie Posted July 30, 2011 Report Share Posted July 30, 2011 Quote Link to post Share on other sites
nmarks Posted July 31, 2011 Report Share Posted July 31, 2011 (edited) Despite posting here for over 4 years I have never entered into the debate over which asset class to invest in, gold, equities, baked beans, that sort of thing. Lying down on the sofa as I am, I've been doing some lateral thinking and considered the following: If inflationistas are right then there is going to be a great deal of printy-printy in actuality. What better to invest in, then, than the companies that do the actual printing itself? And what about the companies supplying the raw materials, ink, paper etc? http://www.zyra.org.uk/banknote.htm "It Takes Money To Make Money Because You Have To Copy The Design Exactly." - Steven Wright Edited July 31, 2011 by nmarks Quote Link to post Share on other sites
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