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hsedin33

US National Debt Closing in on 57 Trillion

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Nope, no one thought that. Everyone and everything is getting flushed down the toilet.

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Nope, no one thought that. Everyone and everything is getting flushed down the toilet.

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Unreal.. the US has dug themselves a hole they can never climb out of.

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Foston you and your future wife are a very attractive couple. just sayin

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There's always hope - just ask Rambo:

2824007-Im_Rambo_Hope.jpg

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They should hold a bake sale.

Things like that always work.

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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.

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When Reagan brought in the first trillion dollar budget people were nervous. Now it's just a number.

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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.

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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.

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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...

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Congratulations America on the big milestone!!! Thumbs up!!!

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Lol they suck, US should start selling states.

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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.

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