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Charting US Debt And Deficit Since Inception
In the recent aftermath of the US just concluding its fourth consecutive fiscal year with a $1 trillion+ deficit, we have been flooded with requests to show how the current fiscal situation stacks up in a big picture context. Very big picture context. For all those requests, we present the following chart showing total US Federal debt/GDP as well as Deficit/(Surplus)/GDP since inception, or in this case as close as feasible, or 1792, which appears to be the first recorded year of historical fiscal data. We can see why readers have been so eager to see the "real big picture" - the chart is nothing short of stunning.
Some observations:
- Beginning with the Anglo-American war of 1812, and continuing through the US civil war, World War I and World War II, the major military shocks to the US fiscal system are clearly obvious.
- Just as obvious is the impact of not only The Great Moderation which started in the early 1980s just before the 1987 arrival of Alan Greenspan at the helm of the Fed, which allowed the US to exchange fiscal prudence for ever cheaper debt which could and would be used to fund an ever greater budget deficit, and lead to a surge in the Federal debt.
- The increasingly more unstable system, which saw the additional layering of another $23 trillion in shadow banking debt at its peak in 2008, as well as countless trillions in household, corporate and financial debt, as well as hundreds of trillions in underfunded welfare liabilities, led first to the Internet bubble, then the Housing and Credit bubble, and finally, to the Great Financial Crisis of 2008 which climaxed with the failure of Lehman brothers, and resulted in the central bank bailout of every developed bank, and shortly thereafter, the backstop of every peripheral country in Europe.
- The gravity and impact of the Great Financial Crisis on the US economy is stark, very visible, and can only be compared to previous instances of destructive military conflict in terms of lost output and impact on the US economy.
- Total US Debt/GDP is currently just over 103%. This number is expected to rise to 125% by the end of 2016, which will eclipse the peak debt/GDP seen in World War II, and be the highest in US history.
- Whereas in the past episodes of fiscal catastrophe were accompanied not only by a surge in debt (black line), but by a parallel explosion in fiscal deficits (red bars), this time the deficit spike has been more modest (peaking at about 10% of GDP), but more protracted, with even the CBO expecting deficits of around $1 trillion to last for the next several years.
- One possible interpretation is that due to the Fed's relentless interest rates intervention, the polarized US government feels no burning desire to promptly balance its budget, and even overshoot, and through a combination of aggressive spending cuts and/or revenue increases, result in a much needed surplus which would be used to reduce the sovereign debt. This is graphically seen in the ongoing Fiscal Cliff debate, when any proposal for substantial spending cuts - the true problem at the core of America's deficit habituation and welfare statism - is greeted with shrieks of Mutual Assured Destruction.
- This is not a political issue: politicians on both sides of the aisle are perfectly aware that setting the US on a sustainable fiscal course would mean massive pain for the common citizen, and an immediate termination of all existing political careers: after all the myth of the welfare state is at stake. It is in everyone's interest - both GOP and Democrat - to perpetuate the unsustainable deficit status quo indefinitely. Any theatrics out of the GOP demanding fiscal conservatism are therefore just that - theatrics.
- There is no question that it is unsustainable: US GDP is currently growing at a pace of 1.5%-2.5% at best. Total 2012 US debt will have risen at a rate of 8%, and will continue rising in the 6%-8% range.
- More disturbing is the influence of the Fed, whose policy of ZIRP and outright debt monetization (recall even JPM has now admitted the Fed will monetize all US debt issuance in 2013) is the only permissive factor that has allowed the US to delay the inevitable moment of reckoning as long it has.
- Indicatively, a modest rise in the average US interest rate, which is currently at all time blended lows, to just 5%, would mean that in 3 years the US would spend, pro forma, $1 trillion in cash interest each year. At that point the US will approach Japan status, where the government needs to borrow just to fund interest outlays. Actually, instead of Japan, Weimar would be a better analogy.
- Finally, on all previous historical occasions, there was at least one backstop of last reserve, a central bank, standing ready to step in and provide the necessary liquidity, and monetize the needed debt to keep the show running. Since 2009, all the central banks have also gone all in on the Keynesian endgame: at this point the next shock to the status quo system will be the last, as there is no more backstops.
- At that point the only two options will be outright monetary devaluation, though not relative in the closed monetary loop of modern monetarism, but absolute, where every currency is concurrently devalued against a hard asset (potentially with the forceful concurrent confiscation of said hard asset by the host government, think Executive Order 6102), in order to generate a terminal currency and debt debasement, or outright global debt moratoria, and the end of the modern financial system as we know it (but not before the financial "leaders" of our time have converted enough of their paper wealth into hard asset format and transferred it to more peaceful, more "gun-controlled", non-extradition territories).
And there you have it.
Oh, and whoever said the advent of the Federal Reserve, or the end of "hard money" standard courtesy of Richard Nixon, made catastrophic or systematically shocking events less frequent, probably should have their head examined.
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Japan has a debt to gdp of 200% (double that of the U.S) and they still manage to buy UST's (3rd largest foreign holder)
Because the domestic ownship of JGBs is high.
In 3 years the Fed will own about 60% of marketable US debt with duration risk (i.e. with a maturity over 3 years) and will remit all interest back to the Treasury. Does that count as "domestic"?
If I am wrong then please correct me but from what I understand the domestic holdings of Japan (and it could be Japanese pensions) is high. I think something like 90% of JGBs are owned by Japanese people.
Domestic demand should have a much stronger role in buying bonds than a Central Bank would for the domestic demand has a vested interest in the outcome of the Nation-State.
Debt divided by GDP..... isn't government spending (debt) = GDP when you boil down Keynes' equation? I guess I'm just unsure that debt/GDP is a real metric just like GDP is a real metric.
what we need is High Value Notes
hey -- that was last thursday. Dec 13 2012 from 9:30 to 10:00 am at the Banknote 2012 Exhibition Hall!
anyone go? anyone take notes?
get it? "take notes"? hahahahaha
no, seriously. give us a full report.
HIGH VALUE NOTES — "THE NEW GOLD" AND WHAT THIS MEANS TO THE CENTRAL BANKS AND THE CURRENCY INDUSTRYTom Ferguson, Former Director, US Bureau of Engraving and Printing
Genie Foster, Former Cash Manager, Board of Governors of the Federal Reserve
Genie Foster, former "cash manager" Board of Governors of the Federal Reserve --- we know you read ZH. how about uploading a video of your talk?
http://banknoteconference.com/agendas.html
scroll down, click to reveal Dec 13
who went http://banknoteconference.com/attendees.html
Everyone notice how Ronald Reagan and Bush I got this NWO bull shit going.
Long Red, Short Black
Slick points out the obvious.
And of course screw Reagan.....cause dead men can't fight back. Big props go out to Clinton for that NAFTA crap.
Shitsmearconference.com. Where Bush accepts voodoo economics and Reagen is blamed for WWIII.
Time to own it bitchez - Nancy Pelosi
"Go shopping!"
"I am not worried about the deficit, it's big enough to take care of itself."
I would appreciate a credible source pinning this crap on a knowing Reagan. The bush cretins are obviously all over it. My understanding is that Reagan was essentially forced to take HW as VP. Don't misunderstand...Reagan is no hero of mine but I do think he was more of a dupe than anything and may have sincerely desired to work for the good of our country.
No question about it though that from HW to the fraud in chief pretending to be president today, a plan has been and is being carried out. The final act ain't gunnu be pretty either.
Safelygraze... Interesting link, thanks. Below is a paragraph from the conference 'overview'... I have a question: What per cent of sales at big box retailers are made in cash? I'm guessing that it's a low per centage. Therefore, I suspect this conference was more about credit cards than cash useage... though that could change as fewer shoppers have access to credit cards.
"As the definitive forum on the emerging trends in the banknote industry, Banknote 2012 provides an unparalleled opportunity to engage in interactive discussions with peers, from both government and industry, on the state of the banknote industry today. With presentations ranging from counterfeit deterrent technologies, to banknote design, to production, issue, and cash handling, Banknote 2012 offers immense value and invaluable opportunities for delegates attending this dynamic event."
http://banknoteconference.com/overview/about-banknote-2012.html
All the more reason to print money for our debt to ourselves. Well, are we even "printing" money anymore? Or just adding a bunch of zeroes to the balance sheets...
Of course we don't actually print.....that would cost way too much money....or something like that.
"In 3 years the Fed will own about 60% of marketable US debt with duration risk (i.e. with a maturity over 3 years) and will remit all interest back to the Treasury."
They never lie at the FED or at Treasury.
In 3 years the Fed will own about 60% of marketable US debt with duration risk...
Clearly, then, and factoring in the obvious conclusions from anyone looking at the chart, in order for the Fed to complete its work of total debt enslavement, we need more war. Libertarians are very fond of saying "war is the health of the state", and for a very good reason. Confirmation only requires a glance at the chart.
@Because the domestic ownship of JGBs is high"".
For now. But with an ageing population cashing out JGB's to live on (Especially with ZIRP) that will change quickly.
Yeah, like any ponzi, when cash redemption requests exceed new sucker cash inflows, the game is up
America is the new Japan.
The big collapse is over and done with.
Now comes the hard part.
We stagger along like a gut-shot bear for the next twenty years till the baby boomers die off.
Happy days are here again.
http://www.angrysinner.blogspot.kr/2012/12/yesterday-i-hiked-ten-miles-through_17.html
unlike Japan, US has illegal aliens slaves and slaves in China and slaves in Middle East.
You think Japanese companies don't manufacture anything they aren't worried about being lifted in China too?
The US has slaves in Fontana, CA loading Wal-Mart trucks, slick.
America is following the "Japanese Model"of Zombie Banks so can also look forward to wasted decades, unless the USD collapses before. That is unlikely though because of the Global race to the bottom.
Iceland/Sweden would have been a better approach IMHO. Temporarilt take over the Banks, fire ALL the Managements, wipe out the shareholders and bondholders but protect depositors. Writr off the bad stuff, recapitalize and IPO with the proceeds going to the taxpayer. As opposed to the Banksters.
Sweden did that? Must have missed it. But you're right in that banksters don't manage to steal quite as much loot in Sweden (or Germany), just several average annual salaries, not hundreds of times the average worker salary like in the US.
http://www.nytimes.com/2008/09/23/business/worldbusiness/23krona.html?_r=0
In the future, all these asshole will be forced to put up convertible bonds and have capitalism decide if they live or die.
this is what the french government should do in the coming year, if the french banks do a Jamie Dimon/Hank Paulson on it when the shit hits the fans as it eventually will.
But it has to be in concertation with all EURozone, as its ONE currency. I guess that decision belongs to Mutti.
TRAVEL: $3,629,622
The biggest expense is President Barack Obama’s round trip flight to Hawaii via Air Force One.
A Congressional Research Service report released in May 2012 said the plane typically used by the President, a Boeing 747, costs $179,750 per hour to operate. The U.S. Air Force has listed the cost of travel as high as $181,757 per flight hour.
Travel time for Air Force One direct from Washington D.C. to Hawaii is about 9 hours or as high as $1,635,813 each way for a total of $3,271,622 for the round trip to Hawaii and back.
http://www.hawaiireporter.com/residents-alerted-to-obamas-hawaiian-holid...
but... add domestic, household, business, and other liablitlties in the Z report... 800% of GDP
gov't is the smallest piece in reality
to wit:
http://content.screencast.com/users/wprosser/folders/Jing/media/df3213ea...
http://content.screencast.com/users/wprosser/folders/Jing/media/f74fb745...
just saying......
Private interest have been cheering on an infinate growth model of economics as public debt skyrocketed for a while now. Why exactly are we in a crisis again? I was born in 1984 and this has ALWAYS been the status quo. Behind every private fortune is publically pooled debt. Ask any billionaire you know.
This aint socialism.
"(but not before the financial "leaders" of our time have converted enough of their paper wealth in hard asset format and transferred it to more peaceful, non-extradition territories)." THIS is key, these "leaders", bankers, politicians, TPTB, et al, have and continue to fleece the sheep. When the shearing is over, they'll be high and dry with gold and silver, you'll just be another dumbass naked sheep. Baaaaah...........
the idea of "Government no longer existing thus causing a massive stock market rally" is actually not new. In other words "the only person Wall Street has to worry about under this scenario is Chairman Bernanke of the Federal Reserve." if true that streamlines...ahem..."decision making" ahem...A LOT.
Again - this is why I read ZH.
wall street = federal reserve = wall street. no worry here
With each progressive war we ran the deficit to GDP up to new highs. I wonder how far we can push that sucker with the mother of all wars coming up. Seeing as how we are flat ass broke and no real economy I'm going to guess we run it up to 75% deficit to GDP.
Easy to see a parabola there ... so 75% or more is a reasonable estimate.
Big war coming ...
ZH, simply the best, nobody does it better.
I pop onto the MSM finance sites from time to time for a laugh... read their rah rah shit... then I go to ZH and I find out the real story...
Best example was the great vehicle sales - not a mention of subprime car loans and channel stuffing anywhere - except ZH
This is by FAR the best finance site in existence.
I think that the "Great Fiscal Crisis" label doesn't fit in with the rest. Only wars seem to do these sorts of things, so let's use the label "War on Terror." We were told that this war would last our lifetimes... (didn't say that we'd live to a ripe old age- the exponential curve can only go so far before the wheels blow up).
Note that from World War II to the present the U.S. has been in a state of continual warfare and armament. That's pretty much reflected in the chart. The chart does not indicate the unfunded liabilities such as Medicare and Social Security.
Good point about endless war. And though the chart wouldn't ever really show unfunded liabilities (only liabilities added in on a per year basis) your comment makes me wonder what the chart will extend to as the $100 Trillion + of unfunded get worked in year after year.
There is a new currency regime coming. I cannot remember the name of the guest, but Martenson had a December interview with a guy (Bob W.?) who hypothesized that this is all occurring to usher in the new regime ASAP. Does anyone really think the Fed doesn't know what they are doing?? The endgame cannot come soon enough for these guys.
Its like being in a poker tournament and you are short stacked and approaching the end of the buy-in period. You start shoving all-in so you can either make it back or bust and re-buy. ONLY OPTION FOR US IS RE-BUY!
BUY Au! BUY Ag! BUY Pb!
Looks like it's about time for some moar war. Mr Bass has this nailed.
Long Nickels
22 Stats That Prove That There Is Something Seriously Wrong With Young Men In America. We Have Raised An Entire Generation Of Young Males That Don't Know How To Be Men, And Many Of Them Feel Completely Lost.
http://investmentwatchblog.com/22-stats-that-prove-that-there-is-somethi...
No shortage of symptons, that is the easy part...
What went wrong?
Can it be fixed in time?
Being 23 years old, I hope that I'm not defined with this "Peter Pan Generation". I don't play video games and I don't have a TV, now all I need for success is to get rid of this damn laptop so I stop wasting time with you old geezers on this damn website, haha
Young vs old. I win, why? Cause your stuck paying for it all! Ha, Ha! Next payck u get, check out the SS deduction. Thanks for helping my retirement income. You lose, dude! U can always leave the country.
Enjoy your limp dick, liver failure, and inevitable painful death.
Being 23 years old, I hope that I'm not defined with this "Peter Pan Generation".
Just sign here......now you can go.
No one gets out alive.
I wouldnt count on video game slackers with pants halfway down their ass paying for your comfy retirement income....I'd be real worried.
i hope your still alive when SS runs out so you have to eat shit
rah, rah, rah, "there is something seriously wrong with young in America" - I call BS
there is nothing wrong with young men in America - they are fine if you consider what they were submitted to
what all those journalists, writers and so called experts completely forget is that
what is happening is that young women are getting politically whatever they ask for, in the US, in the UK, the Commonwealth and Scandinavia
and they - led by non-conservative thinking since three generations - are asking for and getting:
- diploma mills that cater for their interests, after schools that adjusted themselves to give them an edge over boys (including changing optimal, tested teaching techniques for new, "improved" versions that are sub-optimal but PC, and damned the drugged boys that don't get any motivation out of them)
- financial services that fund their shopping, including their diplomas
- a work environment that caters for their sensibilities (safety from danger, from confrontation, from anything typically male, and damned the male needs for competition)
- a work/life path that does not include any early hard decisions about family (you can do it on your own, you have time, grrrrl!) which leads them to start looking for a suitable husband way too late, in a moment in life where their expectation for Mr. Right have ballooned to impossible (remember that all girls respect and search for something superior compared to their own standards - shorthand: more)
we have in the above mentioned countries a new generation of supergirls. we just all forgot that in order to achieve that, boys had to give, a lot
now the supergirls are looking for men, and won't find much to their liking. and so they start to bash the "immature boys" in the same way that got them where they are, by asking more
it's a bit like a girl lending for a sports car, not paying back the loan and then bashing the hapless, broke male creditor for not having another, better car she could admire him into - because actually this girl would prefer to look up to him, and the whole car biz is worthless for her if he hasn't a better, sexier model
besides, he does not have to impress her with cars (or whatever - insert any achievement, physical, moral or imaginary here) anymore, he gets more than enough sex from all the younger, not yet in search of commitment girls
just compare to how conservative the rest of the world looks now if you want to get the full picture
we continental europeans, from Portugal to Normandy to Sicily to Sibiria are just watching amazed
Yes. It was young women who started all the wars that jumped the debt in the US and elswhere.
Gawd, you really are an idiot.
oh, I thought US porn industry made the US men feel very manly and women put in their places...
Are you then saying the US porn revolution should be junked like the US "guns for everyone without control" thingie?
Now that, would be a cultural change of magnitude.
If you could add to that : No drones, no ME military bashing, no Corpocracy Oligarchy selling junk foods, junk drugs, junk GM seeds, junk financial derivatives and junk industrial wastes in general, floating on the Oceans or dunked into festering pits, we would have a cultural revolution that could save the planet...in the land of 25% world consumption and global trend setter!
Just think of it, the US changes its paradigm, its way of life "non-negotiable" to the NWO cabal, and the WHOLE world suddenly becomes a better place!
Wowie. Lets hope NEWTOWN rides on the emotional wave to establish true guns regulation BIGTIME in memory of those innocent toddler lives. Like the rest of USA.
Make porn, not war!
you are not replying to the gender divide amongst millenium generation, between super gal and depressed guy, when you say that!
That was the starting point!
As long as super gal says "I'm fine with that" and Super depressed guy says "I can handle that! ..."
Now you got me to laugh! On Sad Sack's predicament.
Okay that was a complete fucking waste of a minute and a half.
Why should young men growing up without a male model of social and economic responsibility turn out differently? It's directly tied to the collapse of hard work. Capitalism is SO successful that it plants the seeds of its own destruction. In terms of material wealth, food, health and invention no other system comes close.
Yet one day, someone says, IT'S NOT FAIR. "Why should they have more than we do?" That conversation has occurred around the world with predictable results. Forced egalitarianism has many consequences: Entrepreneuship declines, R & D disappears, hard work is ridiculed, debt explodes and money shuffling jobs abound (the epitome of Europe).
For young males, a work ethic comes from...work. Which is why in the Olympics and in sports, the vast majority of athletes are from rural areas.
Just says it all, really
Poor Tyler, didn't read ray Dalios tome on how economies work. Ray says its nothing more than "beautiful deleveraging"......shirley the man with the biggest hedge fund knows everything......relax.....we will get back to the good ol days soon enough.....its all cyclical......ray says so....
I think this chart is one that Bernanke would wave to justify his current policy.
However it may be differt this time as in the past the spending had purpose and was somewhat focused (one might argue) while this time it is unguided handouts to the ruling class - drinks all around.
So if Rome is any lesson, we only have 200 more years of this shit before America will be officially "fallen"?
Nah, Rome had to physically pound different metals into actual coinage to debase its currency. We have computers for that now and they're waaaaaaaay faster.
My guess is most of today's 40 year olds will be dead long before the US falls. (-1 if you're over 40 and hoping to make a killing short SPX.)
So they will be exterminating us soon?
Oil won't last that long.
"Somebody" is bound to say: "Well gee, it was worst during WW2 and we did pretty well since then."
Sigh... where to start. Galactic War will save us.
America should have never stuck its nose in the U.S. Civil War. If you look at the chart, that was the beginning of the end.
The chart needs to reflect the debts racked up in the "Continental" currency as well as the Whiskey Rebellion in response to paying for it.
And I thought Friday was depressing. Bravo ZH.
The FED is clearly a crimminal parasite on the system.
Kind of interesting how the ONLY time in the history of the USA that we had VIRTUALLY ZERO national debt was when the charter for the Second Bank of the United States was revoked by Andrew Jackson.
But, the panic of 1837 is quite often blamed on this as well.
Interesting the chart shows only "hot" wars and not "cold" ones. Reagan waged a bloodless war that destroyed the USSR, ended the Cold War and removed the prior threat of nuclear annihilation that hung over everyone.
Anyone who was an adult in the 70s and 80s will remember the widespread fear of nuclear devastation. In WWII, other than the troops, most people in the US did not feel seriously personally threatened. In the 60s, 70s and early 80s, large numbers did. Yet because troops were not getting killed, we forget about that war.
The proportional growth in debt during the Reagan years was much smaller than in WWII and even WWI, despite Reagan removing a real existential threat to the survival of the US that was not the case in either of those other wars.
Afghanistan ended the USSR, not Reagan. The greatest existential threat to to most people is the US.
I've no problem with you having a wank over a picture of Ronny, but change your name mate, your sort of crap comments take down a great Australian character.
You're such a raw prawn you probably think Australians drink Fosters...
Chernobyl helped as well.
Chernobyl helped as well.
Reagan was a pawn on a one-sided chess board
hegemonial chess boards are always "one-sided". The other king's death march is programmed to his final burying ground.
In this case, under RR, it was the USSR demise allowing NWO birth, under PAx Americana hegemony and clash of civilization hubris.
As for Reagan's role (alike Maggie of UK financial City sister), he was not a pawn but a "power broker" and "silver tongued spokeman- Elmer Gantry" of the then Oligarchy cabal, the Bohemian Grove set that would subsequently morph into the Texas-Bush- Halliburton-Enron-Carlyle nebulous/cabal of NWO matrix. All around the OIL-Saud/reserve currency/MIC massive supremacy AXIS to terrorise the "rogue states" and recalcitrant heretics to imperial Pax Americana's will.
Until they hit the great financial crisis asymptote thru "forever upward SUper Cycle growth" hubris.
Now its a towering fiat inferno.
Its always that way, here is a reminder thru an historical parallel with Republican Rome's demise :
8 Parallels Between Contemporary America And The Fall Of The Roman Republic - Business Insider
Anyone alive in the 70s and 80s remembers black bag ops out the ass in support of "freedom fighters" everywhere that certainly weren't free, but weren't declared either.
If you don't think people in CA felt threatened by the Japanese in WWII, you're a motherfucking moron (otherwise, what's with the concentration camps?).
From 30% of GDP to 60% of GDP in less than 8 years? And that "removed existential threat"...wants Georgia back and can't wait for a hot war in Syria, dipshit.
"I owe $125k to China and all I got was this Patriot Missile Battery"
TNI feed is free to view
http://tnifeed.com/?page_id=1943
Who gives a fuck! Keeps gett'in proped-up. Bears are eventually right, but when baby! Maggots well be eat'in my flesh when it all eventually comes down. In the mean time; consume. consume, consume. Got a big oil derrick painted on the side of my Ferrari. When I drive like-a-bat-out-of-hell, I get 7 MPH. You really think I give a fuck.
Tyler's, why, oh why would you not include 2008- 2012? Isn't the wost recent data the most pertinant? Does that parabolic arc continue streight up at 45 degree angle, or 80?
Are we off the chart now.
Finish the chart and show how far we have blown past war time defecit.
we are living a complete fantasy.
Did you even look at the title of the chart, or any part of the article at all?
he probably had the impression it ends in 2008 because that is the last printed year at the bottom
CEO material, from my experience in how some people read charts
good chart, btw, congratulations and many thanks
I particularly like the Clinton budget surplus area, wasn't an accounting trick involved in that?
as always your fan, even when I could strangle you for some of your views
(but not before the financial "leaders" of our time have converted enough of their paper wealth into hard asset format and transferred it to more peaceful, more "gun-controlled", non-extradition territories)....
Prescient ominous prediction. Are we seeing that in Japan now?
one of these
the debt caused the wars, the war caused the debt, the deficit can grow to 25% of gdp before the next war, post wars deficits shrink.
Showing debt as a percentage of GDP is misleading. It should be shown in raw numbers.
Unclear if Excel supports a big enough chart
in dollars or gold? both can be misleading over generations, so I hereby defend Tyler's choice of debt and budget deficit as a percentage of GDP
it's really about how much compared to that time's calculations they decided to under- or overspend - that's the important part that shows how much the US government is trading the future for the present, as you usually do in wars
Isn't GDP itself a bit of a synthetic metric (full of "broken windows", as it were) anyway?
Graphs of US debt in dollars to say...inflation-adjusted median household income...would be just as shocking.
Who cares. I'm leaving it for my great, great, great, great, great, great, great, grandkids to fix. Party on.
Hasten the end: use a condom.
Charting US Debt And Deficit Since Inception - talking of which I notice the chart matches Mrs. Greenspans menstural cycle exactly, and it also matches the chart for GBP/USD for Nov-Dec 2012.You will notice that the first period (known as the Red period), covers days 1 to 5 of the chart. This period is characterised by bearishness in the markets and no vaginal sex. Many rookie accounts bleed dry during these periods.
The second stage of the chart illustrates the emergence of the bullish overian phase of the cycle, leading to a peak around days 12-14. This part of the cycle is characterised by the markets banging ahead at full steam regardless of risks and unplanned accidents. This is also a good period for long term investors looking to gain from child maintenance payments in future divorce settlements.
The latter part of the cycle brings a degree of tension and instability, only the fearless would engage against the PMT indicator characteristic of this part of the cycle.
Eat your heart out Regie Middleton. Further infomation on this new scientific approach to trading can be obtained by sending me lots of money. A more in depth study, 'An Economists Guide to Shit Financial Policies' is available online at www.shitcongoingon.com As a gesture of goodwill you may watch the first video for free: http://www.openculture.com/2012/05/walt_disneys_the_story_of_menstruatio...
The hot chick from Bad Idea T shirts ad on the home page leaning over flashing her cleavage makes it difficult to concentrate.
I can't get motorboating off my mind. BRRRRRRR BRRRRRR BRRRRR!!!
"You'll notice, the faster I whack, the more Simpson sounds like a speedboat!" - Gary Larson
The game will officially end, when the Fed can no longer print enough money to buy replacement toners.
They will start filling them with blood
The "Great Financial Crisis" was just the second leg up. Scary. 300%, here we come!!
don't waste our time with this Debt/GDP nonsense. The problem is much, much. much worse than these useless graphs portray. In 1940, did the GDP numbers contain nonsense like "the amount of rent you would pay yourself if you rented the house you now own"? Ditch that graph and use numbers computed by, e.g. John Williams.
The above chart combined with the increase in OECD oil production (The North Slope and North Sea) is all you need to understand the apparent success of Reaganomics....
A Keynsian is a Keynsian by any other name...