hsedin33 Posted July 25, 2012 Share Posted July 25, 2012 For anyone who thought America still has hope... http://www.usdebtclock.org/ Link to comment Share on other sites More sharing options...
Guest BuckFoston Posted July 25, 2012 Share Posted July 25, 2012 Nope, no one thought that. Everyone and everything is getting flushed down the toilet. Link to comment Share on other sites More sharing options...
hsedin33 Posted July 25, 2012 Author Share Posted July 25, 2012 Nope, no one thought that. Everyone and everything is getting flushed down the toilet. Link to comment Share on other sites More sharing options...
Jaku Posted July 25, 2012 Share Posted July 25, 2012 Unreal.. the US has dug themselves a hole they can never climb out of. Link to comment Share on other sites More sharing options...
zombieksa Posted July 25, 2012 Share Posted July 25, 2012 Foston you and your future wife are a very attractive couple. just sayin Link to comment Share on other sites More sharing options...
Heretic Posted July 25, 2012 Share Posted July 25, 2012 There's always hope - just ask Rambo: Link to comment Share on other sites More sharing options...
Jägermeister Posted July 25, 2012 Share Posted July 25, 2012 They should hold a bake sale. Things like that always work. Link to comment Share on other sites More sharing options...
theminister Posted July 25, 2012 Share Posted July 25, 2012 You do realize that as soon as they officially default, which they will soon enough, the entire world trade network goes in the crapper, local economies will rule the day, and the US will be in as good of a position, long-term, as any country in the world. They have arable land, natural resources, guns galore, and a sufficiently enslavable work force. The 49th parallel will become an afterthought. There is no more dangerous creature than one that is backed into a corner. The US is on "death ground." Ask Sun-Tzu how important that is. Link to comment Share on other sites More sharing options...
Drybone Posted July 25, 2012 Share Posted July 25, 2012 For anyone who thought America still has hope... http://www.usdebtclock.org/ Link to comment Share on other sites More sharing options...
Dittohead Posted July 25, 2012 Share Posted July 25, 2012 $10,000 a second not too bad. Link to comment Share on other sites More sharing options...
Tom-The-Great Posted July 25, 2012 Share Posted July 25, 2012 There's always hope - just ask Rambo: Link to comment Share on other sites More sharing options...
Heretic Posted July 25, 2012 Share Posted July 25, 2012 BTW - here's Canada's: http://www.debtclock.ca/ Link to comment Share on other sites More sharing options...
nucklehead Posted July 25, 2012 Share Posted July 25, 2012 When Reagan brought in the first trillion dollar budget people were nervous. Now it's just a number. Link to comment Share on other sites More sharing options...
nuckin_futz Posted July 25, 2012 Share Posted July 25, 2012 The number you really need to pay attention to is at the bottom the 'total unfunded liabilities' and it's just under $120 trillion dollars. That's the number of dollars they are currently in debt and the dollars they have promised to pay out like Social Security. Which unless they jack premiums through the roof a worker entering the work force today will never see a return on this money that he/she is forced to pay into. Notice the number listed as M2 money supply? The real important number is M3. However, in 2006 the US stopped reporting this number (claiming nobody was interested in it). M3 was basically M2 + long term debt ie treasuries. Which they had begun printing like it was going out of style. Now that the Chinese have realized they don't want any more of this garbage backed paper (treasuries) the biggest purchaser of US long term government debt is guess who? That's right the US Federal Reserve. They are running a Ponzi Scheme the kind they gave Bernie Madoff 140 years for. When it comes to government data you should be extremely suspicious of the numbers they report. For example, even though they are rapidly increasing the money supply which in every other instance has lead to rampant inflation. They keep reporting that inflation is tame. What they conveniently fail to mention is that when they calculate inflation they leave out unimportant items such as food and energy. Claiming that they are too volatile. All the while food and energy costs soar. Hitting the average Joe in the pocket book. Another bs number is the unemployment rate. You're counted as unemployed as long as you're collecting unemployment benefits. The instant those run out, regardless of if you've found a job, you're no longer counted as unemployed. The system simply forgets about you. Going into debt to fund growth is one thing. Doing it to fund the status quo is not a good idea. Borrowing money from governments with hostile intentions is also a bad idea. Say Hello to your new Chinese overlords. The following is a fictional scenario. Sadly, truth is often stranger than fiction. Link to comment Share on other sites More sharing options...
hsedin33 Posted July 25, 2012 Author Share Posted July 25, 2012 The number you really need to pay attention to is at the bottom the 'total unfunded liabilities' and it's just under $120 trillion dollars. That's the number of dollars they are currently in debt and the dollars they have promised to pay out like Social Security. Which unless they jack premiums through the roof a worker entering the work force today will never see a return on this money that he/she is forced to pay into. Notice the number listed as M2 money supply? The real important number is M3. However, in 2006 the US stopped reporting this number (claiming nobody was interested in it). M3 was basically M2 + long term debt ie treasuries. Which they had begun printing like it was going out of style. Now that the Chinese have realized they don't want any more of this garbage backed paper (treasuries) the biggest purchaser of US long term government debt is guess who? That's right the US Federal Reserve. They are running a Ponzi Scheme the king they gave Bernie Madoff 140 years for. When it comes to government data you should be extremely suspicious of the numbers they report. For example, even though they are rapidly increasing the money supply which in every other instance has lead to rampant inflation. They keep reporting that inflation is tame. What they conveniently fail to mention is that when they calculate inflation they leave out unimportant items such as food and energy. Claiming that they are too volatile. All the while food and energy costs soar. Hitting the average Joe in the pocket book. Another bs number is the unemployment rate. You're counted as unemployed as long as you're collecting unemployment benefits. The instant those run out, regardless of if you've found a job, you're no longer counted as unemployed. The system simply forgets about you. Going into debt to fund growth is one thing. Doing it to fund the status quo is not a good idea. Borrowing money from governments with hostile intentions is also a bad idea. Say Hello to your new Chinese overlords. The following is a fictional scenario. Sadly, truth is often stranger than fiction. Link to comment Share on other sites More sharing options...
nuckin_futz Posted July 25, 2012 Share Posted July 25, 2012 Didn't even notice the unfunded liabilities, wow, that's just incredible. I just don't understand where all this money is going. Another thing I found interesting is how Student loan debt almost rivals Credit card debt... Link to comment Share on other sites More sharing options...
etsen3 Posted July 25, 2012 Share Posted July 25, 2012 Congratulations America on the big milestone!!! Thumbs up!!! Link to comment Share on other sites More sharing options...
MikeGillis58 Posted July 25, 2012 Share Posted July 25, 2012 They owe China $332 billion. Link to comment Share on other sites More sharing options...
Tystick Posted July 25, 2012 Share Posted July 25, 2012 Lol they suck, US should start selling states. Link to comment Share on other sites More sharing options...
lx Birdie xl Posted July 25, 2012 Share Posted July 25, 2012 Where is it going? It's basically being pissed away to avoid the eventual day of reckoning. Student loan debt is so high because people take huge loans to get liberal arts degrees and then can't find a job to pay back the debt. The law was changed a few years back so you can't discharge student loans in bankruptcy. If someone came to me for a student loan and told me they wanted to study philosophy, I'd fall over laughing. If they told me they wanted to study plumbing or become an electrician I'd listen to them. Link to comment Share on other sites More sharing options...
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