America's Underwater: GDP = $15.606T; Debt = $16.046T

Java needs to be enabled. The world reserve counterfeiters ,I mean currency is broke.GROSS debt to GDPTake a boo at the currency and credit derivatives! Broke Broke Broke.

reply to post by paraphi


Your forgetting about interest....which isn't fixed. How much can you borrow before the repayment of the interest alone hampers your ability to survive and thrive?

(and how long will people buy your debt?)

reply to post by jibeho


The sad part of the numbers is that we are not given the real figure all we got is what the government spoon feed us with their sugar coated numbers.

The figures are much higher.

wow I must be SERIOUSLY underwater then. I make $80k/year and still owe twice that on my house alone, not to mention my car.

i mean, you are suggesting that annual income is supposed to be higher than all your debts combined, right?


p.s. that's dumb.

Doesn't matter... To sum it up, the whole house of cards is about to fall. Currency will soon be worth squat. Grab gold and guns and run for the hills. Or march peacefully en masse. The choice is yours.

reply to post by jibeho

We've been bankrupt for some time now. Dont even need to include the unfunded liabilities.

And here I am, making roughly 32k per year with approx. 26kin debt.

I may be poor by society's standards but at least I know how to balance a checkbook.

Is meaningless in the cosmos.
Wouldn't make Sense.

It is mathematically impossible to pay off the debt. So.....whatever, nothing you can do about it.

Originally posted by seabag
reply to post by jibeho

 

S&F

Yes, this is terrible news.

I think it’s quite obvious who is to blame - The current Liar-in-Chief.

If everyone could see this video he wouldn’t stand a chance in hell of re-election.

Pretty shortsighted to blame the mess we've created on one guy. I think WE are all to blame. And the blame goes back decades. Wake up and smell the roses. Our economy and form of government has fallen apart because WE are to f'n lazy to come together and keep the leadership honest.

Not the bankers, not the media. US!

Originally posted by jibeho
reply to post by beezzer

 

Let's hope all of this comes up during the debates. I want real answers from both candidates. I want see a detailed map not a GD snapshot.

What planet do you live on, because I want to move there. That's not going to happen on this one.

Originally posted by vexati0n
wow I must be SERIOUSLY underwater then. I make $80k/year and still owe twice that on my house alone, not to mention my car.

i mean, you are suggesting that annual income is supposed to be higher than all your debts combined, right?


p.s. that's dumb.

That's fine, you make $80,000 a year and still owe something like $200,000 on your house and car. If that were the extent of your debts I'm sure you are doing alright.

But don't forget (comparing you to the US) that you are already spending over $100,000 every year (thus adding $20,000 a year to your existing debt) and have over $1,000,000 in "unfunded mandates" to be covered somehow in the future. The debt to GDP ratio paints a much rosier picture than the real situation.

Clearly we can handle much more debt than our annual income. How much? Depends on lifestyle, but reality is there is more going out than coming in and we are borrowing to pay the "minimum payment" on our debt while eating steak & lobster and drinking Dom Perignon.

It has been the goal of conservatives to destroy the US government since the beginning, so now they are close to their goal.

Face it, true conservatives hate the US government. They don't believe in liberty, so they certainly don't want an organization designed to protect the rights of individuals to life, liberty, and especially not the pursuit of happiness.

It has been the goal of conservatives to destroy the US government for a long time now. They want to shrink the fed gov down to the size where they can drown it in the bath water, and thanks to the con of free market ideology they are close to making this happen.

Right now your choice is to support the bankers, or to support the US Government.

What are you going to do?

reply to post by poet1b


Don't confuse real conservatives with the NeoCons. Real conservatives have a good mixture of liberal and conservative beliefs.

NeoCons follow the Republican agenda to the letter and only pay lip-service to freedom, the constitution and responsible spending.

Show me a real conservative in the government today other than RP and a few others.

Originally posted by paraphi

Originally posted by jibeho
Do the math folks!! We're officially busted!!

GDP is annual. Debt is not. Debt is paid back over years.

Two different things being misused.

As an ex British PM Mr Disraeli once uttered "(there are) lies, damned lies, and statistics"

Regards

Perhaps you haven't heard of something called the

Gross Debt to GDP Ratio ?

It's over 100%.

The $$$ Trillion dollar deficits must come to an end.

The Obama madness must come to an end.

It will come to an end November 6, 2012.

----------
Thank God because we are about to have our credit rating downgraded............again!

Originally posted by RealSpoke
It is mathematically impossible to pay off the debt. So.....whatever, nothing you can do about it.

edit on 12-9-2012 by RealSpoke because: (no reason given)

You are dead wrong on that one.

It can and will be paid off.

It is adolescent for you to say - nothing we can do about it-.

Originally posted by Eurisko2012

Originally posted by RealSpoke
It is mathematically impossible to pay off the debt. So.....whatever, nothing you can do about it.

edit on 12-9-2012 by RealSpoke because: (no reason given)

You are dead wrong on that one.

It can and will be paid off.

It is adolescent for you to say - nothing we can do about it-.

Ok, I am open to that idea.

Can you explain how the debt could be paid off, including the interest and all that?

And considering that Romney has not come out with a plan to do so, why should we believe that Romney will do it?

reply to post by sheepslayer247


I'll explain it to you November 7, 2012.

reply to post by Eurisko2012


No....I'm not going to accept that and that's exactly what Romney has been saying. You have a knack for making very specific claims, yet you never provide specific proof or data to back it up.

This is ATS my friend. Your word nor mine is good enough. You need to back-up such a claim.

I am willing to listen and I am open-minded enough to allow you a chance to change my mind.

So please take the time to make your case.

Originally posted by Eurisko2012
reply to post by sheepslayer247

 

I'll explain it to you November 7, 2012.

No time like the present, go on ,explain it.It sounds like you're stumped and are stalling for time.