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As Fed Pauses Printing, Total World Debt Tops $100 Trillion
If, as Lacy Hunt explains "debt is an increase in current spending in lieu of future spending," then we have some 'un-spending' to do...
h/t @Reinman_MT
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prosperity is the new debt slave,
Debt is actually over $200 Trillion globally.
http://blogs.wsj.com/economics/2013/05/11/number-of-the-week-total-world-debt-load-at-313-of-gdp/
Krugman ejaculated a little when he saw that chart.
Crash and burn.
and how many Quadrillion are the derivatives again???
The purpose of the derivatives pile is largely to make the risk on the rest of the "real" debt seem hedged. It's leverage on top of leverage.
If I just had a dollar for every trillion underfunded...
Trillion, shmillion...
Can we make Mr Krugman the new clipboard greeter for Air Ebola? There's gotta be some Keynesian broken window bonus in there somewhere.
OK, Lets call it even and start over!
Just a little? I would have thought Krugman would have had a comic orgasm over that much debt!
That Bloomberg article was May of last year.
Anyway, what's a cool $100 trillion between friends.
It's a rounding error I tell yer ;-)
Derivatives are even higher I think $600 Trillion or was somone peddling some Quadrillion figures around..?
Let me see I will hypothecate a future value of your slave labor, your assets, your earning potential, how well your misses can give me a BJ, and create a contract based on it and call it a DERIVATIVE.
Because that is exactly what these bastards did inflated the currency, inflated the debt, and created Quadrillions in bogus derivative contracts that they sold to each other.
It was like trying to play a game of monopoly and someone keeps slipping $500 notes into their pile..
END THE FED; arrest them, cancel their charter and wipe the illegal federal reserve debt
long rope and lightpoles
"Get to work Mr. Yellen"
Fear not, bankers! The printing will continue, until the economy improves (or implodes...whichever comes first).
This time, only insiders will know when and how much.
This ought to be good!
There has never been a better time to be a congressional staffer and day trader!
That rocks!!
You should of photoshopped in some cheese grill dripping out her mouth or something love it!
Only the Fed is pausing for a little while. Everyone else is doubling down. That chart will keep growing or there is no growth and politicians can't deal with that.
Once you start screwing the nanny, you don't stop until you are forced to.
or till the babysitter shows up ... in a tight skirt
Pfffftttt.... If Japan has taught us anything, it's that as long as you can roll it over, you can continue to borrow. Now somebody loan me $1000 for this month's mortgage payment. I've got a flatscreen to buy.
Take a look at their stock market the past 25 years. Also they aren't constantly engaged in wars and don't have a shitload of illegals and freeloaders leeching off the system
You don't have a very good sarcasm detector do you?
I do a periodic battery check.
I use old school AA's
I don't have a fancy iSarc app.
And how does total world debt stack up against total world assets? Spoiler alert: you don't want to know.
We still have the moon we can re-hypothicate.
I heard it lost value after CHA was carved into it.
Dibs on Mars!
Esplain usef Lucy...
The earth is abut to re-learn the dangers of printing infinite paper/digital claims on real good and services that simply do not exist.
Hell on Earth. What a movie script. Not a script? The real thing? Oh shit...
Movement in Vol is interesting before the FOMC release
what did liesman say? ... consumer debt is a bridge to ... Sage Kelly lifestyle?
i'm in
yes seems like a rally might be in the works.
100 trillion. Why not just make it 100 quintillion. It wont be paid.
If you include off balance sheet liabilities, its probably closer to $100 bazillion.
Technically.
Hillary makes at least half a Kaboom-billion per speaking engagement. Of course all that money goes to the charity of her choice....The Clinton Global Initiative.
Trust them, it's all for a good cause. Free wifi and phones in Africa........n shit.
Can we pay her in Zim-Bucks?
Throw in the OTC market then it interesting.
Heck the US is on the hook for $120 Trillion alone! Is that net debt? Or just total debt?
I've got to ask myself: debt to whom? If we follow the GAAP, doesn't one liability become someone else's asset?
Who does #2 work for?! https://www.youtube.com/watch?v=J-YVt4gfquA
Yea you show that turd who's boss!
The toal area bellow that curve, divided by US workforce population, is the mean productivity needed for repaying the debt and start working for your own accumulation in [USD trillions/(year*person)].
Leverage the beverage.
So, has the market reacted yet?
Someone's gonna pay. Who's it gonna be?
Best comment I've seen on ZH EVER !!!
I've asked a variant of the same question ever since I joined this Site:
Who specifically is NOT going to get paid, and what exactly are they going to do about it?
The money simply isn't there.... or anywhere.....
That's why Gughenheimer invented the first Fed printing press. So the Bible of Money & Derivatives could be mass produced. And you know what the last three words in the Bible of Money & Derivatives are? "Get the money" - quote attributed to some money-changer named Krugman, I believe.
That's just debt. It is an abstract tool used to implement a global power structure. The higher the debt, the more complex the (hierarchical) power structure. Reducing complexity is not an option as it automatically causes damage to the power structure.
The day the 'debt bubble' bursts, the 'power structure bubble' will burst as well.
And nature just abhors a vacuum.
As Dickless Cheney said: "debt doesn't matter anymore." He is absolutely correct.........cause it will never be paid back. Of course what he didn't say is what the world would look like after the collapse.
Too bad Oblabla never took up bird hunting, Dick could have shot him in both his faces.
After a while, when the real pain begins, PLAN B will come riding in like the Lone Ranger and everyone will crowd around thanking him for saving the day.
In the meanwhile, Tonto will be implanting the microchips.
You don't think these guys have a Plan B...or C...or D?
yeah so what? modern economies use debt based monetary systems. total debt is suppose to rise over time.
Why do you even post stuff like this? dont you understand how the system works?
Debt based currency implies enslavement.
We must print more. Back to work Debt Slaves!
Do you understand how it ends?
it doesnt end, its designed to be able to go on forever.
There is something I don't understand about this system. OK the debt is 100T. But, there is also interest to pay on this debt. So if the central banks issued 100T against debt, and the total amount due to maturity is something like say 101T, where does this extra 1T come from? Moar debt? Have we already been expropriated right under our noses?
I guess if no one ever asks to be repaid, that is possible.
But then it really isn't "debt" then, is it?
Putin lovin this, and Gold
This morning I saw a flock of doves attack and kill a hawk. What the hell does that mean???
#winning
100 Trillion is just a number. Life is about democracy, equality, humanism, shopping, hollidays, happiness, FUN!!! Just strike another few keys dude, what's the problem?
I don't recall seeing a "Pause" button on the Fed printer. Shh!!! We'll just keep on printing, but just not tell anyone.
Quick!, to the vanishing ink printer!
Put the Y axis on log scale already!
This is truly insane.
MAD Money As Debt,
backed up with moar
MAD Mutual Assured Destruction...
Electronic monkey money, backed by apes with atomic bombs. "This is truly insane," to the degree that it is criminally insane, because this is the result of the application of the methods of organized crime to dominate the political processes, so that the biggest gangsters, the international banksters, were able to capture control over governments, in order to legalize the counterfeiting of the public "money" supply out of nothing as debts.
The comments above already mentioned most of the relevant points, that this 100 trillion number is probably too small. What this chart demonstrates is the that the global debts could not be less than 100 trillion. Depending upon how one does further calculations, the overall debts are bigger, while the derivatives based on top of that are way bigger ...
Money is measurement backed by murder, because the debt controls depend upon the death controls, inside of actually combined money/murder systems, wherein governments are the biggest form of organized crime, controlled by the best organized gangs of criminals. The entire political economy is based on ENFORCED FRAUDS, made by integrated systems of legalized lies, backed by legalized violence, which have been growing at an exponential rate, due to the ability in the short-term to continue to back up bigger lies with more violence. However, in the longer term, these runaway debt insanities are going to provoke death insanities.
The creation of money out of nothing as debts, by private banks, which frauds were enforced by governments against everyone, IS TRULY INSANE, beyond our ability to fully imagine, since that not only drives runaway social polarization, it also drives strip-mining of the planet's natural resources and destruction of the natural world. It is almost impossible to assess the overall magnitude to which THIS IS TRULY INSANE, because it has become electronic frauds, backed by atomic bombs, operated by human beings who basically still behave like monkeys and apes.
It is possible that the final consequences of these runaway enforced frauds will be the extinction of the human species. The whole world could get so deep in debt because the international banksters were able to corrupt crazy governments to legalize making "money" out of nothing, as debts. The short-term triumphs of that legalized fraud, being enforced by governments, whereby the public "money" supply was effectively privatized, has become a State Religion, which is utterly absurd and irrational, EXCEPT THAT IT ACTUALLY OPERATES UPON THE DEEPER FACTS THAT MONEY IS MEASUREMENT BACKED BY MURDER.
The ways that the vast majority of people barely think about that, or only think about that in bullshit ways that are mostly backwards, ARE TRULY INSANE! However, there are no good reasons to doubt that is going to continue to get worse, faster, at an exponential rate ... as the consequences of controlling civilization with enforced frauds gradually accumulate towards some unpredictable points where the ability to continue to be able to operate on the basis of evil deliberate ignorance towards the basic laws of nature reaches some psychotic breakdown points ...
Oh, admit it, RM, that's not such a bad outcome. Every year hundreds of millions of children die before their 12th birthday.
And the First world doesn't care as long as it's not their children.
For thousands of years the alchemists have been trying to turn Homo sapiens into decent human beings and have had no better results than they had turning lead into gold.
Let's call life a mistake and be done with it.
FEH.
I would rather maintain irrational hope than no hope, and I do maintain a kind of transcendental spirituality, which is a sort of sublime hope not attached to any finite set of facts regarding myself nor other human beings. Meanwhile, I would greatly prefer that human beings learned to operate a more scientific society, than they destroyed themselves with their runaway criminal insanities caused by having their civilization controlled by lies backed by violence.
I like to daydream that enough people would become enlightened enough to stop being so ignorant and afraid as to be so easily controlled by banksters. However, like I said, that takes irrational hope to believe is actually possible, since at the present time Homo sapiens experiments in developing intelligence have apparently dead ended themselves through primarily applying that intelligence to achieve short-term social successes through enforcing frauds, to the degree that the whole world is now drowning under INSANE DEBTS, which systems make developing creative alternatives not possible, unless we all go even deeper into BIGGER INSANE DEBTS.
http://www.youtube.com/watch?&v=UT_1r5ut78g
The Rise And The Fall Of The Bankster
Only revolutions provide any hope for the future, but those do not appear reasonable to believe in at the present time, since there are no good grounds to believe that the vast majority of people will stop acting like Zombie Sheeple. There are no reforms to the established systems that could be sufficient, while even minor reforms appear to be politically impossible within the established systems. The only ways that things might be improved is through some revolutions, but those only happen after the established system drive themselves to become so MAD that they destroy themselves, ... after which one cannot reasonably predict what might be the possible situations then ...
That's a start, RM.
HAMLET
What's the news?
ROSENCRANTZ
None, my lord, but that the world's grown honest.
HAMLET
Then is doomsday near:
Hey RM, here's an interesting link for you that caught my eye in my science news trawling:
http://www3.uni-bonn.de/Press-releases/evolution-of-competitiveness
Bear in mind that this is on the weak end of science scale because they built an evolutionary model to generate results that ended up emulating observations in the outside world. This is very different from reverse engineering the real chemical mechanisms underlying natural observations.
Model != Reality, so one must be careful with interpretation of results, as the scientists involved were careful to explicitly state to their credit. I'm sure they know all too well that pseudoscientists like to run with this sort of thing in an attempt to trick the unwary into thinking that real scientific insight has been attained (*cough* economics *cough*).
(We have experienced this in our own research as pseudoscientists tried to use our names and epigenetics research as support for their bogus alternative medicine).
That warning aside, it's still a cute piece of work because the results their model produces closely match the hypotheses formed by scientists involved in molecular genetics and evolutionary biology, hypotheses that are supported by real chemistry.
Even us scientists, who should know better, like to have our egos pandered by good looking models ;-)
Recall: "banksters like pussy and pussy likes money". The winners are terrible at efficient allocation of resources because all they're interested in doing is winning (gaining status and resources (which includes sexual partners)), so much so that they can destroy everything (and ultimately themselves) in the process: this is their genetic imperative.
A Lotka-Volterra type cycle exists within a population between psychopaths and team-players.
The American people should demand 2 things as a priority: independent audit of the FED and the Pentagon! Probably will not happen without a revolution... tbh, I don't quite understand WHY the Americans have not demanded this already a long time ago... perhaps they're OK that their hard earned money ends up in a big black hole... go figure.
If the economy was healthy and balanced we would not be experiencing slow growth while massive amounts of money are being printed and poured into the system. The crux of our problem remains in the fact that both people and governments have lived beyond their means by taking on debt they cannot repay. Over the last several decades we have created entitlement societies built on the back of the industrial revolution, technological advantages, capital accumulated from the colonial era, and the domination of global finances.
Promises were made on the assumption that the advantages we enjoyed would continue in both Europe and the US. Ever greater prosperity and entitlements were to be sustained through debt financed consumption growth. In that eerie fantasy world, debt fueled consumption was to be the catalyst to bring about evermore growth. Debt does matter and the following article delves deeper into why kicking the can down the road will ultimately fail.
http://brucewilds.blogspot.com/2014/08/modern-monetary-theory-is-wrong-debt.html