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U.S. Total Debt Soars By $674 Billion In November
When the US reached a debt ceiling deal in the beginning of November, it was common knowledge that there would be a debt accrual "catch up" to make up for lost time when the US was operating under emergency measures to avoid breach of the debt ceiling. And sure enough, when the accurate total debt number was released on November 2, this was indeed the case, when we learned that the US had added some $339 billion in debt during the "emergency measures" period.
However, what is unclear is how in the remaining 4 weeks of November, the US managed to add another $335 billion in total debt, bringing the total increase for the month of November to a whopping $674 billion, and total US debt to a record $18.827 trillion.
Also, just to preempt the question, the chart below shows the change in US debt under president Barack Obama: starting at $10.6 trillion on January 21, 2009, total debt is now up just over 77% under Obama's tenure, to $18.8 trilion. At the current pace of growth, it may double by the time Hillary is sworn in as America's next president.
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Bubbles are bullish. Ask Krugman.
And breaking bubbles is even bullisher
It costs real money to re-arm ISIS after the Russians bombed the shit out of them.
A swap is not a liability (if done correctly), but they can take time to unwind.
Give the swap and the liability to those who created it to begin with.
The FED, and the current Congerss critters.
Let them eat their own pile of shit.
$684 Billion in November... wow great recovery
Layoff / Closing List: http://www.dailyjobcuts.com
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but the New York Times told us the yearly deficit was only 437 billion
"Debt" would imply that it is something that will be repaid so it is really not the correct word.
Paying survivor benfits to all the widows of those CIA agents is pricy as well. Plus as blackops agents they won't get stars on the wall. Sucks.
The debt will be paid back some day, in Zimbabwei dollars.
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a Sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. ...Increasing America’s debt weakens us domestically and internationally. Leadership means that 'the buck stops here'. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and Grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. -- Senator Barack Hussein Obama, March 2006
It's a free for all. We are going parabolic. The Nuge rules. https://www.youtube.com/watch?v=-c2OM7HEfrs
OK, back now. After watching 3 Uncle Ted videos. Liked the one about he has a message for Hitlery, Uncle Ted on Trump, and Uncle Ted educates Piers Morgan.
674 Billion in 1 month.
85 million taxpayers.
$7,930 each ?
Syrian refugees aren't taxpayers. But they will get free housing, free EBT cards, free education including free college, free Obamacare, subsidized everything, and don't have to work since they have low or no skills, and will likely all claim PTSD/disability for life. ... courtesy of the working taxpayer. Watch the debt skyrocket.... and it just takes one pissed-off refugee to go make a pressure cooker like the crazy brothers during the Boston marathon.... obviously our immigration policy has too many failures and we have politicians who do not care for their constituents nor any fiscal responsibilities. Really? Really? Like #RefugeeLivesMatter? Really? That is a cliché for everything. .. so over used. Why doesn't the #NationalDebtMatter? Why doesn't #HardWorkMatter or #EarnedIncomeMatter? It seems to me that Social Parasites think only #EasyEntitlementsMatter. That is Bullishittier!
EBT now accepted at your local halal market.
Didn't he provide some additional funding to 'moderate' rebels? Was it $500 million or more than that?
When you have a debt-based fiat currency system in place, where money can ONLY be created in the form of new loans which must be repaid in full plus interest, how can there ever be a reduction in the national debt? It's utterly impossible! There is NO WAY the debt will EVER be repaid, this is not a failing, this is BY DESIGN.
deflation in ink and paper, so keep printing. Debt numbers are just noise!
Elliott: They're practicing confiscation on the Greeks next month, and soon it will be here.
http://www.zerohedge.com/news/2015-12-01/greeks-told-declare-cash-under-...
The magic negro's greatest trick was convincing people that he wasn't the magic negro. As you can see from the charts, he's in the details.
"The magic negro's greatest trick was convincing people that he wasn't the magic negro. As you can see from the charts, he's in the details."
Oh please, blaming Obama for what is going on is like blaming the little garden gnome in front of a house of ill-repute for degrading the morality of the neighborhood. It's just silly, he is nothing but a decoration.
For the record, I was just looking for an excuse to use the phrase "magic negro". But those that can think for themselves know he's just a figurehead, and that he distracts the easily deceived from the very thing you're referring to.
So I do blame the lawn jockey sitting in the White House. The garden gnomes left with Bush.
Really EE! What about Hope & Change? He's a dangerous Sociopath and fits well with the BankCorp Booz Allen NeoCon in ANY MEASURE of EVIL.
So he's a garden gnome with an army and nukes.
obama only has power over 'little people'. he doesnt have any power on a global scale. that power is with his handlers. he could no more 'push the button' than have sex with a female.....
Here is an article one may find.......Interesting (I am being VERY charitable)
From just over a month ago.....
Tea Party Republicans Left Dazed As Obama Cuts Bush’s Deficit By $1 TrillionDo that every month please. End this fucker. Imagine half a trillion or more every month. Would be a spectacuar end! Guess Yeller might not want to raise those rates after all. Could get mighty pricy on that there intrest payments for dang sure!
You would think after spending 8 trillion dollars we would have something to show for it, but other than banker's bonuses I can't think of anything. We didn't even get any boondoggles like a space program or monkey butlers for everyone. It takes a special kind of dumb to misplace 8 trillion dollars.
Ask Zuckerberg if he'll use that "Chan Zuckerberg" shit to help pay it off.
Good one. All 45 billions might two days pay?
But hey, President Cheney once told debts do not matter. And the US will not honour their debts in terms of real value. The more the US debt is growing, the more it is becoming the troubles of everyone else but the US.
Well, two days is better than no days.
Okay, instead let's have Krugman give everyone a pep talk about how wonderful it is to pile up mind-boggling debt.
Maybe 3, but you're on target.
I would say that the US debt problem is indeed worrying a lot of people worldwide. But then anybody willilng to loan money to Barack Obama shouldn't act surprised when they get scalped.
The people who loaned money to Switzerland and got scalped may have more of a legitimate complaint to make.
$45 Billion/ $18.8 Trillion = .0024
Not quite spitting in the ocean, but close.
It is called lying for 12 months. And they are not done yet.
A $Trillion here and a $Trillion there,
Pretty soon you're talking about "real" fiat money
trillion is the new billion
Quadrillion may soon become the new trillion.
Quadrillion may soon become the new trillion.
Too much debt will soon become too much debt.
Yes, but debt is money...
Not to be confused with things like "value", or "capital" or real "collateral"...
Maybe if Granma Yellen hikes rates, these bastards will put away our credit card. < sarcasm ultimo >
It's like saying your 350 pound wife gained 10 extra pounds in November. Does it matter? Would you notice?
Yeah, but when you plot her weight gain and it starts looking like an exponential function, it does tend to become cause for concern. IMO.
What's the concern? It's just numbers and we now have Common Core education to take care of those silly things.
debt = war
always has, always will
Hey, I have a good idea: Lets raise rates - which resuls in a lower market value of the bonds held by the Treasury! What the Heck, if you have no other option then double, double down! Oh, I forgot, the US Treasury doesnt recognize accounting rules so they can mark the bonds at whatever value they want - capital ratios be damned!
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2016 is NOT the time, NOT the problem.
Neither is 2020.
2024 is the crunch time.
Medicare, Medicaid, and SS are gone. Probably sooner.
The debt is near/over? 30 trillion.
Interest rates are hu-uu-uuge.
Automation has wiped out large %tages of jobs.
Boomers have yanked all their money from the markets.
Baby boomers are starting to die in droves. 1945-50 + 75 = 2025.
Get a front seat, lots of popcorn and enjoy!
we need you now moar than ever obi wan bernanke
Can someone who knows nothing about economics explain how the $US continues to beat the shit out of most major currencies?
hahaha...well, seriously, the easiest way to look at is a deseased family of countries all infected with debt - the US is not the most diseased family member, but they all have the same doctor (called Krugman) who insists on leeching the patients when the problem is lack of red blood cells.
I read a hypothesis on one of the mining sites that part of the reason is because the chinese renmimbi is pegged to the USD and because there has been incredible upwards pressure on the renminbi it has forced the USD higher. I have no idea if that's true but it seems to have some validity.
part of the story, look at overnight the US futures buying for an indication of that.
Unless Tyler has a better explanation... I'd say, it's because King Dollar is the GRC (Global Reserve Currency) and, as such, they can play any FX games they want to. Especially if they attack resource-dependent countries like Russia, China, Canada, Australia, Europe, Brazil, Venezuela... The others we kick the shit out of, if they get too uppity. Sad but true.
And since the BRICS are still tied to BIS, and lack the technical merit or guts to roll out their version of BIS to its member and all the EM's, there is no other game in town.
the national debt is owed by Whom exactly?? congressman, senator, military leadership? john Q public?..just who owes and to whom is it paid?
sure china and japan governments , big insurance and pension plans,own us gov debt, but I ask who is paying them on it..taxpayers? not a chance ..with us gov running constant deficits dem ol taxes don't pay it.
why janet yellen does. so it looks to me that it is the FED that owes to everyone and even to itself. so the FED is holding the bag.
congress knows this secret..the FED can go BK..and lenders get a hair cut.
they don't want the FED to go BK, so no Audits to risk showing the Fed is a ponzi, they also don't want responsiblity of a failed US Debt and they like spending the FRN's at will, so No Audits.. the FED is the ultimate TBTF. and a sweet deal for those who control the FED. that is why cheney is right.
at some point they will just stop telling us what the debt number is, or they will lie, well guess what they lie now, so we have no idea what the us gov debt is..and they are getting away with it. impressed yet?
The FED may be the ultimate TBTF but it can and will and when it does they'll just replace it with another one.
Still seen as a safe haven. Psychological rather than economic. Fiat currency only has value while people believe it does.
The only important question is, of course, not answered and probably the data is hard to find : what %age of this 'borrowed' money is 'loaned' by the Fed's creating it?
That measure of when people stop loaning to the US government is rather important in our future, it seems to me.
https://thinkpatriot.wordpress.com/2015/10/27/ignoring-the-absolutely-in...
And because of that political pressure, our Israeli-neocon extremists in governments need much more chaos to prevent their 9/11 crime from becoming a politicla event.
Thus the anti-Muslim hysteria, and the ever-expanding wars. Ditto the anti-Putin hysteria.
Remember, rulers are excellent at using your hates against you.
https://thinkpatriot.wordpress.com/2015/09/21/germanys-jewish-problem/
it's almost nit picking to tell the truth these days.
is there a chart of government liabilities for medicare/medicaid somewhere - these are "promises to pay" so should be government liabilities? I have seen figures bandied about of $250T for these over their full life of decades, but no attempt to actually account for these in the governments books. What's the big deal? They are just numbers where someone said to the odd hundred million people, "I will pay you this every year for x years, if you pay me this for the years prior to x".
Could it be that every cent that has been paid by the odd hundred million people over the years prior to x has instead been paid to blow up strangers, pay bankers bonuses, pay inflated health care costs, lock up petty criminals, pay overinflated salaraies to schools and otherwise secure pork barrel election promises?
also, the other elephant in the room is the GSE's, whose debt is $8T, just a few T short of the Government debt of $10T hen Obama came to power. This is also Government debt, n'est-ce pas?
So with GSE debt, Government debt to GDP is 150% and including the welfare trust fund debt is, well, numbers like 1250% of GDP are all pretty meaningless I guess, especially if any kind of interest rate is applied which would suck up all taxes (and some).
these numbers actually look pretty good for controlling spending
http://www.usfederalbudget.us/federal_budget_estimate_vs_actual
but the $8T in red at the bottom stinks of a balancing item used to massage the other figures above it.
the italians have been saying what good boys and girls they are for decades since they don't have a "structural" deficit (spending and taxes net to zero). Trouble is, their debt keeps marching ever upwards in a manner that is not just related to interest on debt.
looks like the US has found the secret to that little piece of "smoke and mirrors"
So about $2000 of debt PER CAPITA in one month? What, was Uncle Same buying everyone Thanksgiving dinner and early Christmas presents?
"in the remaining 4 weeks of November, the US managed to add another $335 billion in total debt"
Er, those funds were used to pump the stock markets and dump paper gold.
Jeezus H Christ! What part of "DEFICITS DON'T MATTER"1 don't you get?
[1] Dick Cheney
As long as the USD is the GRC (Global Reserve Currency), the US can pay ANY debt, by simply creating more money to pay said "Debt". And as the GRC, the rest of the world is forced to swallow the Inflation that the US has created with its money 'printing'.
You'd think that the ZH authors and seasoned readers would have clued in to this reality by now? Lemme know when things get serious, and the supply chains from China, Asia and EMs start unraveling, and they no longer provide us with killer deals on Black Friday or the coming Holiday Season. But, by then we won't need ZH or any news source to know "What time it is", will we?
Odds are... the Fiat Beast can keep going longer that you/I can remain solvent.
p.s. to 20:18 post: The 'clever' Chinese have just maneuvered themselves into Fiat Hell, with their blind greed and desire to join IMF's (America's) SDR. How phucking dumb can you be? Hint: even the smartest guy who ever lived (Sir Isaac Newton) got clobbered on the stock market, because his primal greed got the better of his Prefrontal brain, with the South Seas bubble. Globalist Banksters and their minions are inter-gallactically good at short-circuiting the brains of virtually all global oligarchs and leaders, which is why they keep marching forward like the damn Borg.
Amount of debt is just one factor, what really matters is amount of the payments, same as for mortgage or car loan for any proletariat, and that is the product of:
net interest rate x the total debt.
As long as FED can suppress interest rates,
AND
FED can even buy the debt regardless of price
AND then return BACK TO the Treasury the interest paid by the Treasury to the FED on the debt that the Treasury issued and the FED bought - at ANY price !
this merry-go-round can just keep on turning and turning and turning and turning ...
So, if you are getting your blood pressure elevated over this, you are committing slow suicide.
If I understand what zerohedge has been saying:
1) A large portion of taxes are paid by the investor class.
2) The strong dollar has depressed reported profits.
3) We have just gone through earnings season.
4) Obamacare subsidies, snap, wic, and illegal alien importation costs have increased substantially.
5) War costs have surged.
6) Retail is down (Excise taxes, payroll and SS taxes are down)
So the wonder is that it is only 335 billion. DC is panicking.
Every $100 that someone working cuts back (drop a cell phone line, drop 3 pay channels or drop cable totally for roku, skip a few doctor visits, quit smoking, quit drinking, drop land line, don't go out of town for vacation ...) is about $13 billion a month. That translates into about 500,000 full time jobs lost a month. The snowball is starting to pick up speed.
Well.. so much so for debt limits to 2017. With that graph? I'll say, that 19.6 T$ will be hit in 2016. Bwahahahahaha..
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And if you think you can complacent with your dollar as global reserve currency? Well... apparently, you don't see these news:
Russia includes Yuan as one of its currency reserves.
https://www.rt.com/business/323639-russia-adds-yuan-reserve-currency/]
First BRIC's bank loans is in YUAN's.
http://thebricspost.com/brics-banks-1st-loan-to-be-issued-in-yuan/
US has been HOSTILE to these 2 countries (China & Russia). And you still think, they will still wants to stick to US/EU/UK currencies??
Still don't see the SHIFT from these countries? The news isn't secret. It's out in the OPEN. You just need to sit & pay attentions for news from these regions..
It seems they issued new debts to roll over old debts.
I've seen this post/similar subject before:
As jotted down in my trading journal:
September 2013: National debt - $16.7 x 1012
December 2015: National debt - $18.837 x 1012
Still consistantly grows 18.5% on whatever is debt is outstanding (Exponential), year-over-year. I used January 1836 (180 years) as a starting point (debt = $0). We will hit $1 quadrillion ($1,000,000,000,000,000) in 22 years from now.
Odds are, you'll run out of money or time, before they run out of digits and exponents.
The ultimate End Of The Line is when "The spice doesn't flow". The rest is just book-keeping and wealth redistribution -- from the many to the few. Because, I've heard, "The needs of the few outweigh the needs of the many".
Deficits don't matter
Someone said this and yes confirmed!
By debt or by sword. Nothing is going to get Americans out of paying this debt back and it will come out of the blood, sweat and tears of your descendants until every last cent is paid in full.
You were warned over and fucking over again. Let's make sure US military members KNOW how they colluded with the enemy in the destruction of their own nation and the future of innocent people not yet born.
Hyperinflation gets us out of it but it has its own consequences.....
Trump will beat Hillary. Hillary might.even be indicted by Nov. 2016
Also is the Fed still monetising the debt??
They decided to repudiate the debt.
Smart move, no?
Looks Like Financial Terrorism to me!!!
The total US Treasury debt from the beginning of the republic until 1977 was less than the debt created by Obama during the month of November 2015. What a farce and not one peep from any of the Presidential candidates...
This is why there won't be any single-payer system to replace the failing ObamaCare.......we can't afford it......even a Democrat Congress wouldn't pass it.....
Are all msm people zombies or is that drooling at the mouth in his photo just some type of animal disease he caught when he went trolling for a date.
all those IOUs to community agitators (on hold for the fake debt ceiling) are getting cashed
in order to get a fair comparison you gotta add the fed's 4 trillion dollar funny money / inflation stimuli, devaluing the money in your wallets to bailout and/or stuff wall street accounts
Propping up a stock market sham ain't cheap.