U.S. debt jumps a record $328 billion — tops $17 trillion for first time

reply to post by ausername


It really dosent matter how you put it. People will fight for this Madness until the end. We are educated to preserve and fight for the survival of this Money system.

If no one have grasped the scam by now. They never will.

reply to post by spy66


Not a scam, it is the ultimate outcome of corruption and greed. It has brought down an empire in the past, it WILL bring this one down eventually.

Sooner than anyone can imagine.

It is the end and the beginning. The time before and the time after. A culmination of evil, greed and corruption.

There really is only one way this can end, just a matter of when.

Beaux
reply to post by watchitburn

 

A little context is needed. The more money you have, the greater debt you can carry. For that reason, the most common measures to gauge a country's debt is the debt as a percentage of GDP and budget deficit, i.e. how much more is spent than is earned as income.

For example, as a homeowner with multiple cars, my debt is much greater than a person that rents an apartment and walks to work. Does that make me fiscally irresponsible if you simply measure the size of my debt? It only becomes a problem if my expenses exceed my income.

Using debt-to-GDP, the total U.S. debt is slightly above our annual economic output. With the single largest economy in the world, we also have the highest debt.

By comparison, Japan's debt (3rd largest economy in the world) is double its GDP and Italy is close. The U.K., France and Canada are close to that mark, even fiscally responsible Germany. By comparison to the world, the U.S. debt-to-GDP (expense to revenue) is not too bad. But it does need to improve.

Here's context. Japan has been doing this "easy-money" thing for quite a while. ZIRP in the US is unprecedented. It coincides with the bank bailouts, the crisis and the ramp-up in debt.

It's not "the usual". This usually leads to market crashes. Take a look at the blow-by-blow of the Great depression, courtesy archive.org (which will be censored, soon) and the New York Times:

web.archive.org... sac.uky.edu...

Right. JP Morgan "saves" the day.

Market crashes can be manipulated. Just a subtle nod, an allusion to something, and bam! Some currency gets suddenly de-evaluated.

Only now, the Internet is just huge. Minute details can be analyzed and reported by millions of individuals, as opposed to the hundreds of thousands in 2008 and the few thousand in 1929. This will be the crisis that defines the century - not 2008. People really, really, need to wake up and take a hard look around. Forget your friends and family - this is something from outside our circles. The 700 billion dollar bailout did not come from a few meetings back in 2008. That crisis was also brewing and it was later shown that the biggest banks were keenly aware of the risks - and simply "hedged" their bets! So, beware of the next "surprise crisis". We've had two already, in this Century.