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government debt is a misnomer - debts are paid back in theory
they are simply cashing in thier chips
everyone should work for the government - talk about entitlements
Crude Oil, WTI, Chart 1999-2012 http://www.forexpipbroker.com/news/forexpipbroker-news-analysis/195-crud...
The printing press is hidding the losses made by the the stupid lenders.
The borrowers cannot pay back.
The lenders are in trouble.
The savers have had their savings stolen by the lenders.
16T sounds about right.
Who cares about $16.3 trillion debt when US unfunded liabilities are $122 trillion and rising at $7 trillion a year?
When Medicare runs out of money in just a few years, then US debt will skyrocket at over $2 trillion a year.
Here are a couple more charts. Goldman Sachs Chart, 2007-2012 http://www.forexpipbroker.com/news/forexpipbroker-news-analysis/221-gold...
Bank of America Chart, 2007-2012 http://www.forexpipbroker.com/news/forexpipbroker-news-analysis/220-bank...
Maybe the making goldman whole as per the chart above and propping up all the zombies like BOfa, Citi etc has contributed several trillion to the debt.
If the debt was $1 and it had doubled to $2 the result would be the same. Showing the change in debt isn't enough. What was the GDP in 2006? The answer is 13.1 trillion.
So 8/13.1 to 16/15.
2006 debt to GDP: 60%
2012 debt to GDP: 107%
you can't just be a little bit dead...or "almost a virgin"..methinks you are fiddling while washington burns
There's nothing easier than booking debt on PUBLIC, isn't it?
Who's the PUBLIC? Where does the PUBLIC live?
This is so stupid , the stupidest scam of all times...
Some Facts:
- The annual interest expense for the U.S. Government is now lower than it was in 2007.
- The more we spend and print, the more "voracious" the appetite for U.S. Paper.
- The massive welfare handouts to the "takers" has contributed to the biggest consumer spending boom in recorded history.
- Which in turn, has created a self-reinforcing boom of more borrowing = more handouts = more spending = faster economic growth.
- And the faster the deficits rise, the lower commodity prices (such as gasoline) falls, creating a tax cut much bigger than the Fiscal Cliff resolution can provide.
- With the 10-yr. yield under 1.8% for an unprecedented 6 month streak, "Animal Spirits" available to drive stocks higher has never been greater, thanks to full page ads from Interactive Brokers hawking margin rate of 1.2%.
Who would have predicted ES over 1400, 10-yr. yield of 1.7%, and gasoline prices in Greenville, SC of $2.79/gallon after running up $15 trillion at an annual run rate of over $1 trillion per year?
NOBODY.
That is why Bernanke will go down as the world's greatest central banker in financial market history.
or that the Fed would be holding $2.7 trillion directly, providing guarantees for a further 5 trillion in swaps and the US govt has spent 5 trillion supporting the economy in four years whilst not accounting for 50-200 trillion in unfunded liabilities (and the banks can mark all their loans at book cost rather than 50% lower market value).
who woul dhave though that central banks led by the Fed will go down in history in the same way that Keynes, Trotsky, Mussolini, Hitler and Marx as the greatest wealth destroyers (amongst other things).
Dude! We are eating our own paper !!! How long can that go on ???
You borrow long enough from the future, the future is no more, it's tapped out, eaten out, empty.
Hey Hulk!
Spoken like a true Keynesian.
I would explain why you're wrong or misguided.. but you've proven beyond a reasonable doubt around here you're beyond full-retard and no one can save you.
"
That is why Bernanke will go down as the world's greatest central banker in financial market history."
This makes you the world's greatest brown noser in any history.
I like you, RobotTrader.
You are our own version of the bullshitter par excellence.
What happens when the fed. owns all the paper, and they need to go back to the till?
Do they issue new paper/debt,or just print out of thin air?
Evil reigns.
The Fed reports to no one.
It has no Board of Directors and files no 10-K report.
The Fed has not and will never be audited.
The Fed may have zero gold it its vaults or trillions worth of gold in its vaults, but it doesn't matter because it will never be checked or verified.
Therefore, the amount of monetization capacity is virtually limitless.
methinks you may have hit every branch of the dummy tree on the way down. what about zimbabwe?
Yes, in the meantime, stripping Americans of their hard-earned money, of the profits from their developed resources, patents and livelihoods, transferring it all to the pockets of the international bankers who have never done a constructive act in their lives. “It’s banking power without any controls,” as letter writer using the pseudonymity of “John Chrysostom” puts it.
Jamie Dimon is on the Federal Reserve board of directors. This is public information.
Come on man, pick a direction. Max Fischer? MillionDollarFucktard_ ? Something just make it look good. Photo icon doesn't cut it by itself.
Mine at least is featuring a matching Christmas hat to MDB's current icon-hat.
Cocksucker, mother fucker, eat a bag of shit, cuntbag, deuchebag, suck your mothers tit. I'm the best chairman, all the others suck. Bernanke, Bernanke, ra ra fuck.
Awwwww shit.
ok. if u say so
Finally it can be told. You don’t need to know anything more about the government of the United States than that of the image of Bob Rubin sitting next to the president of the United States. The fiscal cliff is the banker sideshow covering the wrecking ball hitting America’s production economy with booms and busts, with inflation and monetization, otherwise known as the $16,366 BILLION high Bernanke Debt Wrecking Ball Crane.
For weeks the media has helped as much as it can, casting the fiscal cliff as the real story, implying that the public is intently interested in its solution or everyone faces a monumental disaster.
The bankers are using the fiscal cliff, of course, to cover Bernanke’s demolition of the economy: the political trick is to lead the people to the edge of the cliff and force them to take a compromise or else they will fall off the cliff, and all will suffer.
The media, of course, would like you to believe that the public wants this compromise to be made as quickly as possible -- compromise meaning higher taxes on the “rich” and “some” spending cuts, but not in programs that they like. And the media would like you to believe that the Republicans lost the election and so their refusing this compromise endangers us all because they are protecting their "rich" friends.
And the story of the year is that that’s not what the public wants. Yes, there are lots of low-information voters and non-producers who want that but there are also millions of people who don’t want to pay anymore taxes and they want substantial cuts in this Leviathan welfare-warfare government. Millions want that desperately. That’s why the Republicans won big in state legislatures and governorships in the November election. These people really want smaller government and lower taxes.
Everybody, of course, is trying to put words in their mouths and explain what they want even though they don’t.
Just when I think you are close to making some sense you pull the Republican horseshit.
Your reply makes no sense.
Some people just can't accept that the Republican Party is all about small government and low taxes. Keep the faith!
J.R.s comment wasn't partisan in any way. It was just explanatory, and observationist. I like your low taxes/ small government thoughts. ;-)
Bullshit. This guy is the biggest partisan hack on ZH. He was banging the Romney drum for weeks on end.
"If only we had Republicans leading the way..."
Grow some Hide/skin BoP. Come on man, you are holding a grudge over some past comment, and overlooking a pretty good observation in my opinion. That's the fun of Z/H/Fight club. We beat the shit out of each other, and wake up friends the next morning. You're a smart guy/
I remember your support for Obama, so your evaluations of the Republican Party and comments made about it lack credibility.
My comments concerning Romney occurred in the weekend just three or four days prior to the election when I became disgusted with the Obama campaign’s tactic, joined in by many on Zero Hedge, to keep libertarians from voting. Rather this nationwide campaign, ably assisted by the media, accomplished its purpose and elected Obama.
Ron Paul never told Libertarians not to vote.
I was never for Romney and have always been faithful to Ron Paul but America under Obama is an America being daily destroyed; no other president has been this destructive to the principles of the Founders.
When Austrian econonist, Dr. Murray Rothbard, was asked why he would rather have Bush win than Clinton, Dr. Rothbard said, "Because Bush is not Clinton." And that is at least a reason why many people, especially 58 percent of married men and 56.6 percent of all married people, voted for Romney. Romney is not Obama. Obama is the known quanity. He has proven it; he says it.
You’re a tough talker but you have got your man and you now need to defend his actions rather than attacking your opponents on ZH with wildly erroneous statements.
Answer this one question: Why, are you in favor in of having America destroyed?
Support for Obama? WTF are you talking about? I'm one of his biggest critics.
"I was never for Romney", and "wildly erroneous statements". LOL. Now you want me to go pull your old comments?
You're a bad liar JR.
One can always condemn out of context. This is my statement on November 2, 2012, four days before the November 6 general election:
This is my statement today regarding one of the major factors, other than his treatment of Ron Paul at the Republican Convention, of why Romney lost the election, quoting a statement by well-known author and political analyst, E. Michael Jones:
I refuse to pay I've got Christmas shopping to do.
Tyler, are you tellin' us when we want all our entitled freebees they ain't gonna be there for ever??!!! I'm SHOCKED! This may cause a riot or two, or... Guess that's what all the gun control, drone employment, police state talk's all about...
you can't have a cliff without making a mountain.
The problem is that we've run out of mole hills to make them out of.
Apple Chart, 1993-2012
Only in a world system of such enormous debt currency, could people buy Apple phones in many countries of the world for $1000 a piece and upgrade 1or2 times a year.
Debts are crippling nations and citizens ("now known as consumers").
OT: Not only has French actor Gérard Depardieu left France, he also states in a letter published in the weekly "Le Journal du Dimanche" that he will renounce his citizenship. Some nice sentences for the socialist government.
http://www.lejdd.fr/Politique/Actualite/Gerard-Depardieu-Je-rends-mon-passeport-581254
"Fuck yo Bernanke"
I feel better everytime I say It......
Try It.
It's good for your soul.
He and his fellow fed banksters deserve to be shark food.
Food Stamps Baby! A few more trillion and it will be usa Official Currency.
It seems the doubling time is almost 7 years. We should be at $32,700 billion by 2019 and $65,000 billion by 2025.
Exactly. Bernanke's hedge fund is running an annualized 12% return. How many other funds can claim a double in under 7 years? I'm closing my mutual funds and sending him a check.
lol........ witness one of the problems; how many people really even comprehends trillions?
Here is the current intent:
http://www.efxnews.com/story/15531/fed-lacker-fomc-actions-%E2%80%98designed-part-depreciate-dollar%E2%80%99
yeah double down baby!! Break this bitch wide open and let it rain money!
The money thus far released as far as related to population is a mere pittance.
Bernake knows what to do. His hands have been tied. Let him do his job and
turn this ship around. Benaknke Dimon Greenspan Blankfein these guys are good!!!
Really they are. And Obama is right too about for every person that makes it there are
1,000's of others with same or better talent. That's the truth.
Wish he would back off on a persons right to defend themselves. If he would do that, all of them for that matter and encourage people take care of themslves physically. And bring opportunity education and money to more people the natural balance will just happen without any meaness. Instead of salting the earth and expecting change turn this place into a hydroponic garden!
Down voted 10000
Not everyone here gets your sarcasm.
Just sayin'.
The fed is behaving like a person that gets a credit card with an unlimited credit line. the card allows an unspecified amount of time before a payment is due. The goal is to own as many hard assets as possible prior to filing bankruptcy or in this case callapsing the dollar. I think the fed may even cause the collapse so they can blame it on whatever country they want to go to war with
Jim Rickards has it right about the Fed racing to create inflation before the economy implodes.
It's also a gloal to hide inflation from the CPI.
Money printing: Always look at the bright side of life - it came from nothing and it went to nothing what have you lost? - nothing!
unfortunately...its is going on too expensive health care, too inefficient government welfare programs, propping up bankrupt banks and the killing of civilians oversees. it is turning something...into nothing.
Bernanke did what he was hired to do, no surprise. The debt Ponzi demands exponentially rising debt.
Is it really jaw dropping? Alan Greenspan wrote in the 1960's, that 1920's FED policyh lead into the Great Depression. Greenspan then doubled down on that policy when he was in control of it.
The QQQ literally doubled in one year. What then is really jaw dropping about what Ben is doing? It is a continuation of Greenspan's doubling down policy of the 1990's and 2000's.
Martingale strategy.
Guys it is either this or the road to austerity and deflation. For the moment Bernanke's strategy works much better than Europe's.
My Prediction For 2013 - TF Metals Will Disappear
http://chartistfriendfrompittsburgh.blogspot.com/2012/12/my-prediction-f...
If you are in trouble, double...
He is killing America. And that is not a metaphor.
The pain, confusion and chaos will be widespread. By destroying the county's ability to create income, and stealing (inflation) from the people, is beyond disgusting.
There will be more and more violence in 2013. Which is the tragedy of it all.
Indeed he has. People cry about the Connecticut school shooter... when Bernanke killed MANY MORE children around the world with his genocidal economic policies... and at least the CT shooter is dead. Bernanke? Still free and killing as we speak and no end in sight.
Is it time yet to cancel all US debt owed to the Federal Reserve and then revoke it's Charter?
I wonder how will Bernanke be punished for bringing down the history's greatest super power?
Free will/ Bitchez You are your own masters! Be your best, and be good to your neighbors.
Figuratively. Not Literally. Are you playing us all like Mice?
100 percent honest/ No ifs, ands, or butts, !
World war a'comin... I can feel it in my knee. Presidential authority over the debt ceiling will seal the deal. I can't wonder if we'll see a nice little crash.
I hope he gets rid of the debt ceiling entirely... that'll wake up Bondzilla.
Congress allocates / spends, no?
Looking at the full dataset for this chart back to 1993, there are a few things that jump out at me.
First, the debt was flattening out at just under $6T until April 2001, at which point the upward slope (+$540B/year) is almost perfectly linear for seven years. (R^2 = 0.9975!!!)
Second, Bernanke becoming Fed chairman had no effect whatsoever on that slope until the GFC in 2008, at which point, $700B was added almost overnight, and the slope almost tripled to $1.4T/year. Again, the slope is almost perfectly linear since then (R^2 = 0.9944).
One more doubling or tripling of the slope and we'll have a nice stepwise approximation to an exponential, and it's pretty clear where that will end. And not to be overly cynical, but this method of increasing the temp of the water boiling the frog is that it is designed to entice folks looking at the data to underestimate (by a large margin) debt going forward. Using an exponential fit for the data from 2001 to present, the projection for June 2024 is a tripling to $47T, whereas the linear extrapolation since 2008 projects a doubling to $32.7T.
My guess is that soon "war" "breaks out" and that slope doubles or triples again.
OT, but related: apparently there is a tribe in Brazil that does not have a number system. I guess that means they can't have debt if they can't count. Maybe numbers is where we went wrong. See video at bottom of page: http://www.cs.virginia.edu/~evans/cs3102/?p=138
Going one further, some tribes in Madagasqar, and I suspect elsewhere, have no concept or term for property. Everything belongs to everyone.
Thanks Hubbs. I'll have to look into that. I don't know why I find this topic so fascinating, but I have a deep suspicion that the mental constructs that are often taken for granted, really basic things like language and numbers and ideas like private property, are actually fictions in some sense and they take a life of their own in our minds, disconnected from reality.
I don't have a great deal of difficulty imagining a system without a term for property, since the idea was completely unheard of until the invention of private property rights. The whole idea is actually kind of ridiculous; not only can you not hold property in your hands, you can't go anywhere else with it. How can you possess such a thing?
Edit: In thinking about it some more, I am reminded of the Native American idea that they belong to the land. THAT makes sense to me.
Just a thought? Nancy Pelosi: This Fiscal Cliff Stuff Is Getting Boring - NowThis News
see comment above re Pelosi.
Also , back to remedial math. 47 x 2 = 94. But, what the hell, if the government refuses to deal with the math, then why should I?
you got the remaining 6% right in the next para :)
I prefer to look at the debt as 16.366 X 1012 This number is approaching numbers they use in physics and chemistry.
Yeah, Was that Avagadro's (spelling) number of atoms in a mole? 6.02 x 10^23? When dealing with compounding interest, not much difference, at least time wise, on a logrhythmic scale, between 10 ^12 and 10^23.
we could also switch to how many round trips to the moon...if you put one dollar bills end to end..3,200 at the moment
Pelosi, you ditz. You look, act , and sound like you've have had too many drinks at your tupperware parties.
Speaking of doubling down. Mitt-the-shit talked about the 47% of the low end side of the free loaders, now how about the 47% of the high end free loaders and make it 96%?
The politicians, economists, bankers, corporate elites, lawyers--leaving about 6% of the true middle class workers doing the necessary, productive, value added work..yeah, at the rate things are going down, that is probably a pretty good guestimate at what's been keeping this country from a complete crash and burn already.
And speaking of Mitt the shit...he attended the Pacquio fight in Vegas last week. I never paid a dime for that pay per view crap- more entertainment for the masses (like gladiators for the Romans), I was just dragged over to my wife's friends house to see it because they are Filipipino.
Mitt attending a sleezebag fight in Vegas? Just as I would have expected. Now when he gets spotted in a strip club, I won't be so surprised, and can tell my friends: see I told you.
And speaking of doubling down, that goes double for Obama, expect that I suspect that his wife's broad barn door ass would kick him back to Africa if she ever found out.
Hmm, now that you mention it, how many presidents' wives wear/have worn the pants in the capitol? Starting with Carter.
hillary clinton still does..and her ass is a lt fatter than michelle obamas
Double that in 4 years