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$15,OOO,OOO,OOO,OOOBAMA! - It's Official: Total US Debt Passes $15 Trillion

Tyler Durden's picture




 

Too sad for commentary, but here is some math: total US debt has increased by 41.5%, or $4.4 trillion, from $10,626,877,048,913 on January 20, to $15,033,607,255,920, under Obama as president.

(as a reminder the most recently updated debt ceiling is $15.194 trillion)

 

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Wed, 11/16/2011 - 17:00 | 1884267 transaccountin
transaccountin's picture

very sad day.country being destroyed by the few. no surprise really; the poor and middle barely hanging in

Wed, 11/16/2011 - 17:09 | 1884369 CH1
CH1's picture

True. Time to ditch the system and build our own.

Wed, 11/16/2011 - 17:13 | 1884409 camaro68ss
camaro68ss's picture

Happy debt day everyone! I need to make a $16 Trillion hat for July 2012. I have six months, better get working

Wed, 11/16/2011 - 17:27 | 1884508 defn8Dog
defn8Dog's picture

If we split the tab, that's just $48,100 for each of us. 

Wed, 11/16/2011 - 17:38 | 1884596 camaro68ss
camaro68ss's picture

will you take a credit card for my portion?

Wed, 11/16/2011 - 17:50 | 1884673 tekhneek
tekhneek's picture

GOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOALLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL!!!!!!!!

Wed, 11/16/2011 - 18:46 | 1884911 CompassionateFascist
CompassionateFascist's picture

Before we get all excited, let's just make sure they got the math right:  .30 + .02 = 32 cents. No problem with my share. On a related matter, Zero is now sending 2,500 US Marines to...Australia. To fight the Cane Toad invasion. Or something.   

Wed, 11/16/2011 - 18:54 | 1884940 trav7777
trav7777's picture

IT'S ALL BUSCH'S FAULT

Wed, 11/16/2011 - 19:01 | 1884968 Silver Pullet
Silver Pullet's picture

Too much beer?

Wed, 11/16/2011 - 19:09 | 1885001 Ratscam
Ratscam's picture

it's transitory!

Wed, 11/16/2011 - 19:17 | 1885027 BaBaBouy
BaBaBouy's picture

..........................................................................................................Peanuts.So.Far...

Wed, 11/16/2011 - 19:20 | 1885055 BaBaBouy
BaBaBouy's picture

Green Shoots ...

Wed, 11/16/2011 - 19:43 | 1885137 Hansel
Hansel's picture

WE FUCKING DID IT!  $15,000,000,000,000!

Wed, 11/16/2011 - 20:00 | 1885193 nope-1004
nope-1004's picture

When I was a kid, 15 tril was alot of money.

 

Wed, 11/16/2011 - 20:46 | 1885310 Manthong
Manthong's picture

Finally that's over with.

Now we can get down to some REAL overspending.

Wed, 11/16/2011 - 21:18 | 1885384 TheSilverJournal
TheSilverJournal's picture

$15T is the generous number. It doesn't count what the gov. is on the hook with the banks for, state debt, muni debt, student loans that the gov. is on the hook for, unfunded liabilities, etc.

Thu, 11/17/2011 - 08:56 | 1886257 Absinthe Minded
Absinthe Minded's picture

@Hansel

You missed three zeroes, no big deal, just a gubmint rounding error.

Thu, 11/17/2011 - 11:38 | 1886945 Taint Boil
Taint Boil's picture

Try Google It looks ok to me you stupid American educated fucktard.

Wed, 11/16/2011 - 19:26 | 1885075 tmosley
tmosley's picture

He's referring to his life.

Wed, 11/16/2011 - 20:37 | 1885275 Taint Boil
Taint Boil's picture

 

 

Trav74 

Yeah, actually you are right Busch Bush #2 is number 1 and Obama is number 2 and not to leave out Bush #1 at number 3. But hey all that doesn’t matter … what really matters is what Drudge and Fox News say.

 

edit: Well not counting WWII. And ..... Reagan #4 LOL just saying

 

 

Wed, 11/16/2011 - 19:06 | 1884987 Mentaliusanything
Mentaliusanything's picture

Troops are too give China a sabre to rattle.

Indonesia is really pissed off he by passed them.. after all, being Blood and all that.

President promises that Australia to get a base on American Soil the day America pays off it debt in full.

Looking forward to that..... aren't you

 

Wed, 11/16/2011 - 19:02 | 1884978 4 wheel drift
4 wheel drift's picture

roflmao.....

Wed, 11/16/2011 - 19:20 | 1885051 SilverDoctors
SilverDoctors's picture

Apparently Blythe and JP Morgan celebrated by adjusting 1.1 million ounces of silver into REGISTERED VAULTS, effectively TRIPLING their registered silver supplies overnight!

Also pretty interesting that 1.4 million ounces of registered silver is "unavailable for delivery" over the MF Global theft, and suddenly JP Morgan shifts 1.1 million ounces into registered overnight.

http://silverdoctors.blogspot.com/

Wed, 11/16/2011 - 20:41 | 1885302 SilverDOG
SilverDOG's picture

...and the 300,000oz silver bar goes to... US Mint? 

for $50/oz.

Thu, 11/17/2011 - 01:59 | 1885885 prains
prains's picture

fuck that's a lot of crack

Wed, 11/16/2011 - 22:16 | 1885483 hannah
hannah's picture

booyaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Wed, 11/16/2011 - 18:47 | 1884915 Mark123
Mark123's picture

Sears Card?

Thu, 11/17/2011 - 17:04 | 1888973 Jena
Jena's picture

uhm, how about a check for mine?  oops, forgot to sign it, damn!

Wed, 11/16/2011 - 17:40 | 1884607 SHEEPFUKKER
SHEEPFUKKER's picture

Can I borrow the money interest free to pay my share?

Wed, 11/16/2011 - 18:02 | 1884736 SheepDog-One
SheepDog-One's picture

'Your share' if your are a taxpayer is now $1,034,000

U.S. National Debt Clock : Real Time

Lower right hand corner.

Wed, 11/16/2011 - 18:12 | 1884777 Greater Fool
Greater Fool's picture

No problem. I can easily grow my way out of this. I'll get, say, eight or ten white-collar jobs, then outsource all of them to India and collect the spread.

Wed, 11/16/2011 - 19:10 | 1885002 Fedophile
Fedophile's picture

You seem to have mistaken debt for unfunded liabilities. Either way you are both wrong, the real number is debt per tax payer or $133,344. 

Wed, 11/16/2011 - 20:00 | 1885192 centerline
centerline's picture

So, how do the unfunded liabilities get paid?

Wed, 11/16/2011 - 20:09 | 1885227 Moe Howard
Moe Howard's picture

with unFRNs

Wed, 11/16/2011 - 20:31 | 1885280 whoisjohngalt11
whoisjohngalt11's picture

yes i think the Tax payer debt much more germane..

Wed, 11/16/2011 - 22:04 | 1885458 nmewn
nmewn's picture

I refute the "democratic principles" under which it was imposed.

I'll see em in court...or elsewhere ;-)

Wed, 11/16/2011 - 18:13 | 1884768 tekhneek
tekhneek's picture

Actually, you can use a credit card to help "pay down the national debt"

https://www.pay.gov/paygov/forms/formInstance.html?agencyFormId=23779454

And I quote:

Welcome to the United States Treasury's 

site for making donations to help reduce the public debt.  If you would like to make a 

donation, please fill in the required fields

and click the Submit Data button when 

completed.

LOL.

Hold on a minute though (hypothetical here): If everyone maxed out their credit cards at the same time through that form to pay down the national debt would the debt be 0?

...or would the debt become 30 trillion because that money was borrowed into existence to pay down already borrowed money?

Someone else please explain?

Wed, 11/16/2011 - 18:17 | 1884798 Greater Fool
Greater Fool's picture

The national debt would be zero. BUT all of our credit scores would go to zero, banks would go belly-up left and right, and several pension and sovereign wealth funds would incur spectacular losses.

To save us all, the Treasury would undertake a 15 trillion dollar stimulus.

Lather, rinse, repeat. See also: the European banking / sovereign / banking / sovereign / banking etc crisis.

Wed, 11/16/2011 - 19:10 | 1884984 Dane Bramage
Dane Bramage's picture

National debt is a misnomer, at least for the uSA.  There is no national government.  "Public debt" is also a stretch.  That $15 trillion is FEDERAL debt.  And, seeing as how they've subverted their charter (USC) in innumerable ways, not the least of which is the currency itself (got bills of credit?), they are a rogue agency and should be treated as such (w/extreme prejudice).

Wed, 11/16/2011 - 20:03 | 1885203 centerline
centerline's picture

That might explain the lien held against the treasury to almost the exact amount of debt!  LOL.  Just like a corporation.  Move #1 after getting the gears in motion is the file the lien!

Wed, 11/16/2011 - 22:11 | 1885470 nmewn
nmewn's picture

"Public debt" is also a stretch.  That $15 trillion is FEDERAL debt."

Number five greenie is mine, I don't spend them very often ;-)

Wed, 11/16/2011 - 20:36 | 1885289 whoisjohngalt11
whoisjohngalt11's picture

The Irony wow--That's Beautiful .....

Wed, 11/16/2011 - 21:25 | 1885398 GCT
GCT's picture

Yep but you cannot deduct it from your taxes!!

Thu, 11/17/2011 - 02:12 | 1885900 A Nanny Moose
A Nanny Moose's picture

This would a fascinating experiment. I think we should take it viral. Xmas day, we all gift eachother the premise of full payment of US debt, by maxing out our credit cards.

See where it goes from there.

Thu, 11/17/2011 - 17:07 | 1888982 Jena
Jena's picture

Oh sure.  We'd do it but there's always some bastard who'd hold back and mess it up for the rest of us.  

Wed, 11/16/2011 - 18:22 | 1884818 Grinder74
Grinder74's picture

What would be great is if the Treasury would offset a person's student loan--who has made on-time payments for at least 7 years--against and up to the per-person portion of the debt.  For instance, my 32k gets offset against that 48.1k; I get to not make $300+/mo payments anymore and the govt no longer has that much in outstanding Treasurys.  It may be a drop in the bucket as far as the national debt, but that could be one hell of a stimulus for consumers.

Wed, 11/16/2011 - 18:55 | 1884945 trav7777
trav7777's picture

fuck you; I paid my loans.  Pay yours or give me the same benefit you get

Wed, 11/16/2011 - 19:07 | 1884996 tekhneek
tekhneek's picture

agreed

Wed, 11/16/2011 - 22:14 | 1885480 TheSilverJournal
TheSilverJournal's picture

"That could be one hell of a stimulus for consumers."

Stimulating the consumer is exactly what we don't want. What we want is to stimulate the saver because savings is where the capital comes from to produce goods. It's savings and production that drives an economy, not spending and consumption. 

Wed, 11/16/2011 - 19:09 | 1884998 Hearst
Hearst's picture

Unfortunately this bunk system rewards moral hazard.  I say wipe the slate clean.  ALL debts, paper, and electronic currencies go to ZERO.  Fresh slate.  Re-introduce Gold & Silver as common currency.  Done.

Wed, 11/16/2011 - 20:09 | 1885224 centerline
centerline's picture

Millions are wiped out.  Poor, sick and eldery die in huge numbers.  Cities burning within days as the welfare checks and food stamps stop flowing.  Oil is revalued in the process, effectively crippling critical supply chains.  And so forth.  World as we know it changes overnight.  Going to happen anyhow... just a matter of whether it happens slowly or all at once.

From the ashes we will rise again... but there is pain to experience first.  This we have brought on ourselves.  Of course, the fuckers who orchestrated this should be hunted down like animals.  

Wed, 11/16/2011 - 20:31 | 1885277 andybev01
andybev01's picture

I vote 'all at once'.

Wed, 11/16/2011 - 20:39 | 1885296 a growing concern
a growing concern's picture

Can you guys wait til I can run to the store and get an AR15 and about 5,000 rounds of ammo and about a years worth of canned food?  Kthanksbye

Wed, 11/16/2011 - 21:19 | 1885385 Hearst
Hearst's picture

'Can you guys wait till I run to the store and get an AR15 and about 5,000 rounds of ammo and about a years worth of canned food?'

 

Seriously, if you are still unprepared at this point in the game you deserve the bread lines.

Wed, 11/16/2011 - 21:29 | 1885405 Hi Ho Silver
Hi Ho Silver's picture

You have until the music stops. Make good use of the time you have left.

Wed, 11/16/2011 - 20:43 | 1885303 Rollerball
Rollerball's picture

Wrong.

Debt instruments of a private Basil Institutional Syndicate (BIS) are easily replaced by CREDIT issuance backed by the largest armed force in the world if their leader(s) had a ball sack. 

Thu, 11/17/2011 - 02:15 | 1885904 A Nanny Moose
A Nanny Moose's picture

The forest must burn periodically, to remain healthy.

It 's gonna be a stinky planet.

Wed, 11/16/2011 - 23:54 | 1885696 Great Depressio...
Great Depression Trader's picture

And what year did you graduate trav you smug fuck?? Surely you have seen the explosive rise in tuitions?? Assuming you're a boomer cuz u talk like one then you pay squat for your loans.

Wed, 11/16/2011 - 21:21 | 1885389 Matt1973
Matt1973's picture

No #OWS hand-outs

Wed, 11/16/2011 - 23:51 | 1885690 Great Depressio...
Great Depression Trader's picture

Student loans suck. Just don't go into default on those fuckers because they are nondischargeable in bk.

Thu, 11/17/2011 - 01:43 | 1885870 ceilidh_trail
ceilidh_trail's picture

Grinder- Man up and pay your bills. Freeloaders are what is killing us already.

Wed, 11/16/2011 - 18:41 | 1884889 Dre4dwolf
Dre4dwolf's picture

There isn't enough money in circulation for each of us to split the tab.

 

Wed, 11/16/2011 - 20:36 | 1885287 Calmyourself
Calmyourself's picture

Duhh, thats why we charge it, for everything else there's masterfucked..

Wed, 11/16/2011 - 20:20 | 1885261 Bunga Bunga
Bunga Bunga's picture

The price you have to pay

to get out of slavery.

Wed, 11/16/2011 - 17:34 | 1884559 RemiG2010
RemiG2010's picture

 

Hurray! Let's open up some champagne!

http://www.youtube.com/watch?v=T6VF11PC6LA

 

Thu, 11/17/2011 - 05:09 | 1886061 Bruin4
Bruin4's picture

15 Trillion in debt and all I got was this lousy T shirt

Wed, 11/16/2011 - 17:17 | 1884437 Waffen
Waffen's picture

Secession Secession Secession.  50 independent countries.

Wed, 11/16/2011 - 17:22 | 1884473 Dr. Acula
Dr. Acula's picture

That's treasonous talk!

The United State of America is going to last forever.

 

Wed, 11/16/2011 - 17:23 | 1884487 Manthong
Manthong's picture

Anybody happen to note what the exact time $15T hit on the clock?

How close was it to the market rolling over late today?

Wed, 11/16/2011 - 17:45 | 1884646 Vincent Vega
Vincent Vega's picture

I did not note the exact time but it was about 2:30 central time (as I was watching debtclock).

Wed, 11/16/2011 - 18:05 | 1884753 EINSILVERGUY
EINSILVERGUY's picture

It was 2:30 cst. I took a screen snapshot of it when it rolled over

 

 

Wed, 11/16/2011 - 18:17 | 1884802 Diogenes
Diogenes's picture

What number did you have in the pool?

Wed, 11/16/2011 - 18:25 | 1884833 Pitchman
Pitchman's picture

Sounds like the first salvo in the battle to Restore the Bill of Rights and the Tenth Amendment, returning the Republic to the conscent of the governed.

- THE FOUNDING FATHERS: MYTH ASIDE, THIS IS A VISION GONE WRONG

Wed, 11/16/2011 - 18:38 | 1884875 Rockfish
Rockfish's picture

AND YOU WOULDN'T LAST 50 MIN.

Wed, 11/16/2011 - 19:34 | 1884967 Monedas
Monedas's picture

Waffen Wurfer ! I'll use your post to issue a Math riddle ! If all 50 states were having civil wars....each state individually at war with the other 49 individually....how many civil wars would there be ?  Please show the math ! N. Dakota vs S. Dakota and S. Dakota vs N. Dakota is one war ! Monedas 2011 Comedy Jihad Obama isn't capable of winning the 6th grade National Spelling Bee without his teleprompter ! My guess is 625 or maybe 1250 or maybe 1225 ?   625....my final guess !

Wed, 11/16/2011 - 20:14 | 1885235 kekekekekekeke
kekekekekekeke's picture

1225

 

50!/(2![50-2]!)

Wed, 11/16/2011 - 20:39 | 1885297 Calmyourself
Calmyourself's picture

So DC fights all of us, right...

Wed, 11/16/2011 - 21:00 | 1885340 Greater Fool
Greater Fool's picture

Correct, although using combinations for this is sort of swatting a fly with a Buick.

Each N can be at war with N-1 others (unless we're enabling states to be at war with themselves). Every war is then counted twice, so divide by 2:

N (N-1) / 2 = 50 (49) / 2

More fun: Consider the South Dakota-North Dakota war distinct from a tripartite war between South Dakota - North Dakota - Alaska. Each state is involved in every war it can possibly be using this counting method. How many wars are going on?

Wed, 11/16/2011 - 21:25 | 1885397 knukles
knukles's picture

4950

Wed, 11/16/2011 - 22:03 | 1885455 dogbreath
dogbreath's picture

nice avatar

Wed, 11/16/2011 - 17:19 | 1884462 redpill
redpill's picture

Put simply, it's an utterly unrepayable sum at current dollar valuation.  That leaves only two options: Inflate or Default.  There are no other choices.  Unfortunately the practical impacts of both of these can be quite different for the economy, and we have to try to hedge accordingly while watching the handful of madmen trying (and failing) to centrally plan our economy become increasingly desperate and driven toward one of these two eventualities.  

Wed, 11/16/2011 - 17:26 | 1884505 mayhem_korner
mayhem_korner's picture

Unfortunately the practical impacts of both of these can be quite different for the economy

 

Inflate = fiat gradually becomes worthless until critical mass capitulates

Default = confidence in fiat dissipates and capitulation happens quickly

The difference is in the pace and distribution of the pain.  But either way gold-holders are better off. 

Wed, 11/16/2011 - 17:43 | 1884612 redpill
redpill's picture

Don't underestimate the savagery of the oligarchy against those they identify as having hedged properly.  They will be deemed evil speculators at best, but more likely some form of domestic terrorists.  Even holding physical gold will be characterized as sedition in rhetoric if not in law.  What desperate measures they'll go to in order to undermine its perceived value are nearly unimaginable, but be ready for an assault on anything that is an effective hedge against their actions, for in their eyes you become more fearsome than any foreign fighting force.

Wed, 11/16/2011 - 17:45 | 1884647 TheSilverJournal
TheSilverJournal's picture

Don't overestimate the pull of government either. They're not miracle workers and when fiat becomes extremely abundant, its purchasing power will decline no matter the rhetoric or laws.  

Wed, 11/16/2011 - 17:50 | 1884670 redpill
redpill's picture

Some people simplistically claim that we fought street to street and door to door in towns across Iraq because we wanted their oil.  We'll take the oil alright, but I have a slightly more sinister view of what the military really wanted:

 

 

 

 

Practice.

 

Wed, 11/16/2011 - 18:01 | 1884730 tekhneek
tekhneek's picture

Alex? Alex Jones? Is that you?

LOL

Wed, 11/16/2011 - 18:03 | 1884744 LeBalance
LeBalance's picture

Ostrich? Is that you?

Wed, 11/16/2011 - 18:10 | 1884774 redpill
redpill's picture

Roll with it, Blythe!

Wed, 11/16/2011 - 18:14 | 1884785 tekhneek
tekhneek's picture

Oh come on you know I had to!

We agree on things though so, no worries there.

;)

Wed, 11/16/2011 - 22:20 | 1885489 Ganja Jane
Ganja Jane's picture

Ouch!

Wed, 11/16/2011 - 20:50 | 1885320 Rollerball
Rollerball's picture

Obedience

Wed, 11/16/2011 - 17:54 | 1884688 Marco
Marco's picture

If government wants they can just put taxes on the sale and export of gold, making it defacto worthless.

Wed, 11/16/2011 - 19:51 | 1885162 SHEEPFUKKER
SHEEPFUKKER's picture

There may be a person or two that has something to say about that. They could also put us all in an incinerator too. 

Wed, 11/16/2011 - 18:22 | 1884819 SHEEPFUKKER
SHEEPFUKKER's picture

True. But what is the option? Keeping all savings in fiat tied up in TBTF? 

Wed, 11/16/2011 - 18:26 | 1884838 bernorange
bernorange's picture

All the more reason to start beating drums for HR 1098 right now.  If the people who beat the drums for Audit the Fed put similar energy towards HR 1098, people could protect themselves.

Wed, 11/16/2011 - 18:57 | 1884953 trav7777
trav7777's picture

look dude if they default, they aren't going to have any POWER to declare ANYTHING.

You know what most people would do if the gov't defaulted and the police weren't going to work and shit like that?  Hell, pack a few assault rifles to the Capitol and waste a bunch of congress.

When nobody is taking the government's paper, they are going to need to offer the goons something real in exchange for protecting their miserable lives.

Wed, 11/16/2011 - 20:58 | 1885336 Rollerball
Rollerball's picture

The "goons" are protecting crude and strategic plants in far-a-way places.

The US Armed Forces will be protecting their families and their future.  

Guess who wins, moron.

 

Wed, 11/16/2011 - 21:17 | 1885379 SilverDOG
SilverDOG's picture

That is where the, "sold to unknown buyer" all that Tungsten tonnage went.

Flood the market with junk gold.

Thanks Rothschild.

 

MMMMM Tungsten.

Wed, 11/16/2011 - 17:42 | 1884622 TheSilverJournal
TheSilverJournal's picture

Yup, it's a win / win for silver. 

Wed, 11/16/2011 - 17:26 | 1884506 NotApplicable
NotApplicable's picture

They will do both, selectively.

Wed, 11/16/2011 - 17:28 | 1884516 DoChenRollingBearing
DoChenRollingBearing's picture

Gold and cash are good for either scenario.  Both.  If we get HI, then you SPEND your saved FRNs ASAP.

Wed, 11/16/2011 - 17:28 | 1884517 Willzyx
Willzyx's picture

But you can only inflate with more debt, and thus more interest.  Assets have to equal liabilities, and we have no equity

Wed, 11/16/2011 - 17:57 | 1884704 Marco
Marco's picture

That's where the government deficits come in.

Although of course the Fed could just print money and drop it from helicopters too.

Wed, 11/16/2011 - 21:22 | 1885390 wisefool
wisefool's picture

The reason a joke is funny, is because there is a hint of truth to it. When Ben said that back in 2002, I was enraged. I did not laugh.

Now, I actually welcome the throught. Dont repudiate debt. Dont hyper-inflate via the PDs (corzines) and Bunga bunga bois (ECB)

give every single american citizen $100,000. withhold 35% tax such that the distribution pays off 12T. Then pay down the 3T through a progressive sales tax. A jubilee with no moral hazard. Debtors can get out out debt. Savers can buy PMs. and people in the middle can just enjoy life for change without feeling they are beeing screwed by everyone above and below them in the crony capitolistic cluster we are in now.

Do it Ben. Seriously, just do it. I am not being sarcastic. It is the only way out of here.

Wed, 11/16/2011 - 17:30 | 1884537 Dapper Dan
Dapper Dan's picture

It's all about "growth"  we worship growth!

Albert Bartlett

"The greatest shortcoming of the human race is the inability to understand the exponential function"

From TEA


November 14 2011: The Growth Paradigm Has Become An Embarrassment

. For those of you who've never read or heard Professor Albert Bartlett's work on exponential growth (since that is what we're talking bout), get moving. Bartlett is a physicist. That means he's an actual scientist, and capable of understanding the inevitable endgame of exponential growth. People like Papademos and Monti, as well as just about any political and economic leader on the planet, don't understand the science involved. Either that or they’re willfully blind to it.


http://theautomaticearth.blogspot.com/

Wed, 11/16/2011 - 17:59 | 1884717 common_sense
common_sense's picture

So nice but reality is INFLATING INFLATING INFLATING... no solution at all, at least with no violence..

Wed, 11/16/2011 - 18:38 | 1884872 Pitchman
Pitchman's picture

Dont worry! Your Grandchildren are going to love The New World Order Of Debt Salvery Economic's Installment plan.  Just slip their little heads and hands into these here blocks. Everything is going to be just fine!

- Inflection Point

Thu, 11/17/2011 - 12:28 | 1887168 Rbh110
Rbh110's picture

You need to put this $15T in perspective.  It is only enough $1 bills to blanket the entire states of Virginia, Maryland, the District of Columbia and have enough left over to cover the entire of NYC (and have a little left over for good measure). Cover every square inch of all that territory - mind boggling in a way.

 

Wed, 11/16/2011 - 18:44 | 1884907 olo - that's th...
olo - that's the bird's picture

Aint no thang.... Interest paid as a percentage of gdp ia not a historic high look ths the 1940s for that.

Wed, 11/16/2011 - 18:51 | 1884928 Conchy Joe
Conchy Joe's picture

Pookey - let's burn this motherfucker down!

http://www.youtube.com/watch?v=YuPPA4wcj2Q

 

Wed, 11/16/2011 - 17:27 | 1884513 The trend is yo...
The trend is your friend's picture

soon it will be 16t and 17t...the power of exponents

Wed, 11/16/2011 - 17:38 | 1884599 Uber Vandal
Uber Vandal's picture

What comes after trillions again....

Quadrillions, followed by Quintillions followed by it really won't matter.

Wed, 11/16/2011 - 18:16 | 1884793 tekhneek
tekhneek's picture

Can't wait til Ben creates the first duodecillionaire.

Wed, 11/16/2011 - 17:28 | 1884515 ltsgt1
ltsgt1's picture

Stop whining, Obamaviles are being build to accomodate the poor and middle class. Can you not see that OWS are busy getting it ready for us?

Wed, 11/16/2011 - 18:59 | 1884960 trav7777
trav7777's picture

not seein how this crap can last another 4 years at this rate.  Good that he'll be regarded in the same vein as Hoover

Wed, 11/16/2011 - 21:08 | 1885358 krispkritter
krispkritter's picture

"same vein as Hoover". Yeah, because they both suck...er, all three that is.

Wed, 11/16/2011 - 20:11 | 1885231 object_orient
object_orient's picture

Obama 2012: overachieving in debt creation since 2008!

Wed, 11/16/2011 - 18:06 | 1884756 Deadpool
Deadpool's picture

Pardon me when I say – “Give me a break.” According to the Congressional Budget Office, total federal government outlays in the next 10 years (2012-2021) are expected to be $44 trillion, while GDP will total $195 trillion.

Wed, 11/16/2011 - 18:20 | 1884814 tekhneek
tekhneek's picture

And what about all those pesky unfunded liabilities?

 

Wed, 11/16/2011 - 19:07 | 1884992 CompassionateFascist
CompassionateFascist's picture

Round about 2001, the CBO predicted US 2011 Fed bal at + c. $2 trillion. Missed target (counting the off-the books 7 trillion debt at the mortgage agencies) by a mere $24 trillion. The CBO, like the rest of the ZOG, is a joke.

Wed, 11/16/2011 - 19:20 | 1885032 itstippy
itstippy's picture

Excellent point.  We all need to keep in mind:

The GDP, as reported by the CBO, parallels Federal Revenue collections.  The GDP's "Government Spending" component is immaterial.

The GDP, as reported by the CBO, is an accurate measure of the nation's economy and has been measured in a consistent manner for decades.  Historical comparisons are apples to apples,

The CBO is able to predict the future 10 years in advance.

The nation's GDP is now about where it was during the 2007 boom times. 

Wed, 11/16/2011 - 21:30 | 1885406 knukles
knukles's picture

Wheeee!  I feel rich again already!
Thanks for letting me know. 
I was starting to get depressed.

Wed, 11/16/2011 - 19:17 | 1885038 Dapper Dan
Dapper Dan's picture

Dead pool, is that GDP number based on any kind of "growth" over the next ten year period?

The "are expected" in your sentence is counter intuitive.

Wed, 11/16/2011 - 19:27 | 1885083 Dapper Dan
Dapper Dan's picture

Speaking of growth....

 At 1.3% population growth.... 

In 750 years there would be one person per square meter of every bit of dry land on the planet.

In 2400 years the human mass would equal the mass of the earth.

http://www.youtube.com/watch?v=u5iFESMAU58

 

Wed, 11/16/2011 - 19:39 | 1885124 CPL
CPL's picture

Don't feed the trolls brother...

Wed, 11/16/2011 - 20:26 | 1885271 Deadpool
Deadpool's picture

thank God! I thought you said 250 years, phew.

Wed, 11/16/2011 - 18:13 | 1884781 Thadius T. Crunk
Thadius T. Crunk's picture

Keep in mind though, quite a bit of that debt is there because of social and welfare programs for the poor and middle class.

Thu, 11/17/2011 - 02:02 | 1885889 geekgrrl
geekgrrl's picture

And quite a bit more from needless wars and the [according to the GAO] "un-auditable" Pentagon. Lockheed Martin isn't one of the largest corporations in the world for nothing. And the big run-up in debt happened mainly starting with the Bush tax cuts for the wealthy. Obama has continued that policy, which is a massive transfer of wealth from the poor and middle classes to the wealthy, and looks like an exponential about to go crazy high very shortly here.

The other thing to keep in mind is that a good chunk of the debt is due to interest on the debt, which gets paid to the Fed and its private investors just for lending the US dollars.

According to a CNN Money article from February 2011, "The interest on the debt is a growing chunk of the budget. Last fiscal year, interest costs rose 13.2% -- more than any other category."

From the same article: "The debt total recently hit the $14 trillion mark. And over the next 10 years, the CBO projects that interest costs will skyrocket because of anticipated higher rates and the issuance of new debt."

Wed, 11/16/2011 - 18:28 | 1884842 The Big Ching-aso
The Big Ching-aso's picture

 

 

'Wham Obama Ding Dong!'

Wed, 11/16/2011 - 18:38 | 1884869 Gringo Viejo
Gringo Viejo's picture

Watching the PM prices at 5:35 EST....poor COMEX/FED  fuckers are SO afraid of REAL MONEY exerting itself.....

Wed, 11/16/2011 - 19:32 | 1885104 High Plains Drifter
High Plains Drifter's picture

i am getting sick and tired of hanging around in the 1700 to 1800 corral.

Wed, 11/16/2011 - 19:23 | 1885066 High Plains Drifter
High Plains Drifter's picture

oh come on. it ain't that bad..........15 T    is a great number.  let's dance........

 

http://www.youtube.com/watch?v=IyjBy19Mdmc&feature=related

Wed, 11/16/2011 - 19:24 | 1885069 mliu_01
mliu_01's picture

The word "few" spelled wrong.

 

 

Wed, 11/16/2011 - 19:27 | 1885079 High Plains Drifter
High Plains Drifter's picture

you got that right.  its like sandusky with a  "i" or a "y"   ...........hmmmmm....

Wed, 11/16/2011 - 19:33 | 1885108 william shatner
william shatner's picture

Don't be sad. Let's dance together with the greeks! waiter.... your finest ouzo!

http://www.youtube.com/watch?v=2AzpHvLWFUM

Wed, 11/16/2011 - 19:48 | 1885148 SHEEPFUKKER
SHEEPFUKKER's picture

We probably hit 15T for reals years ago.  Why should we believe today was the actual day? The day is not sad, the system is sad. The end game will be even more sad. 

Wed, 11/16/2011 - 19:50 | 1885156 RafterManFMJ
RafterManFMJ's picture

 

 

USA! USA! USA! Everybody - USA!

Wed, 11/16/2011 - 20:15 | 1885243 AbeFroman
AbeFroman's picture

Nothing to see here sheeple, keep moving along.

Budget deficits are so Oldspeak. We'll just change the wording. I know, "deficits don't matter."

 

Wed, 11/16/2011 - 20:19 | 1885259 SHEEPFUKKER
SHEEPFUKKER's picture

BREAKING NEWS!!!!

Official statement from Treasury indicates an accounting error.  The 15 trillion in debt is actually a 15 trillion surplus. Winning!!

Wed, 11/16/2011 - 16:59 | 1884272 Seasmoke
Seasmoke's picture

no way thats ever getting paid back.....thats too bad for someone

Wed, 11/16/2011 - 17:05 | 1884321 Dr. Acula
Dr. Acula's picture

Nothing is owed.

Contracts that involve enslaving unwilling third parties and the unborn - essentially slavery futures - aren't legitimate. They must be torn up.

 

Wed, 11/16/2011 - 17:28 | 1884521 NotApplicable
NotApplicable's picture

Ain't my debt!

Odious Repudiation, FTW!

Wed, 11/16/2011 - 17:07 | 1884355 Dr. Richard Head
Dr. Richard Head's picture

Yet there are commentators and supporters of the Obama administration that still think the profligate parasites on Capital Hill should spend more and all of our ailments will be fixed.  Bunch of fiat fucktards.

Wed, 11/16/2011 - 17:20 | 1884471 Hedgetard55
Hedgetard55's picture

but, but... they have PhDs!

Wed, 11/16/2011 - 17:31 | 1884550 TomGa
TomGa's picture

Piled High and Deep.

Wed, 11/16/2011 - 17:29 | 1884536 NotApplicable
NotApplicable's picture

They don't think that far, as they never make it past, "Where's mine?"

Wed, 11/16/2011 - 18:05 | 1884752 Ignorance is bliss
Ignorance is bliss's picture

At this point, might as well. We are past the point of no return.

Wed, 11/16/2011 - 19:32 | 1885100 Mr. Lucky
Mr. Lucky's picture

Ineptocrats.

Wed, 11/16/2011 - 17:08 | 1884364 ziggy59
ziggy59's picture

you mean all of us...

 

15,000,000,000,000/310000000= 48387... per us citizen.

 

were friggin doomed!!

 

but wait..they aint done yet..

Wed, 11/16/2011 - 17:09 | 1884380 YesWeKahn
YesWeKahn's picture

you didn't count the illegal aliens

 

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