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Total US Debt Update: $14.86 Trillion; $162 Billion Increase In Three Days; 98.9% Debt/GDP

Tyler Durden's picture





 

Little to say here: total debt is now at, obviously, a new record high of $14,856,859,498,405.73, which is a $20 billion increase overnight, $67 billion in the past two days, and $162 billion in the last three days. We will repeat the last part: total US debt has increased by $162 billion in three days. Said otherwise, total US Debt/GDP is now 98.9%. Please carry on.

Today's debt summary.

Yesterday's Debt summary:

And from the day before:

 


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Wed, 10/05/2011 - 16:20 | Link to Comment sabra1
sabra1's picture

so, which bank in europe is being fed, and when will those pensions be replaced? well, i'm waiting over here!

hey ma! look! i'm first!!!!

Wed, 10/05/2011 - 16:23 | Link to Comment mfoste1
mfoste1's picture

someone is being bailed out secretly....who it be?

Wed, 10/05/2011 - 16:31 | Link to Comment Fukushima Sam
Fukushima Sam's picture

Everything is just fine over at BOA.

Wed, 10/05/2011 - 16:51 | Link to Comment dlmaniac
dlmaniac's picture

Just pass a new regulation to mark national debt as wealth. Why worry?

Wed, 10/05/2011 - 17:26 | Link to Comment trav7777
trav7777's picture

yeah, lol, I am sure they ginned up the FY10 number to look better than it was.  Now we see $162B of what should've been last year's deficit showing up in the first 3 days.  Lying as a High Art

Wed, 10/05/2011 - 17:50 | Link to Comment tekhneek
tekhneek's picture

The real question is, Tyler, can we PLEASE have an open thread tomorrow once we pass 15,000,000,000,000 (15 trillion)?

 

Wed, 10/05/2011 - 18:08 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

No soup for you!

Wed, 10/05/2011 - 18:33 | Link to Comment redpill
redpill's picture

If consumption with borrowed money = growth, then surely debt = wealth?

Wed, 10/05/2011 - 23:43 | Link to Comment CompassionateFascist
CompassionateFascist's picture

Absolutely, since they count gov't spending as part of GDP, and half of that = debt creation. DEBT is now America's most important product.

Wed, 10/05/2011 - 18:08 | Link to Comment The Deleuzian
The Deleuzian's picture

I can't wait for that!!

Wed, 10/05/2011 - 18:30 | Link to Comment hambone
hambone's picture

Yo T - what would you or I or most any other poor bastard on ZH say bout this tomorrow we haven't already said...Fuck saying any more about this and preaching to the converted.

Time has come for ZH'ers to form the "fight clubs" city by city, ZH local chapters...we need to take this message to "the people".  The time for chatting bout how to invest to enrich ourselves is behind us.  The problem is becoming a bit larger than returning alpha.

Wed, 10/05/2011 - 18:35 | Link to Comment andybev01
andybev01's picture

It looks like the '#occupy...', folks have already started this.

Wed, 10/05/2011 - 19:01 | Link to Comment Hapte
Hapte's picture

My flight leaves Tues, meet you in Liberty Square?

Wed, 10/05/2011 - 19:12 | Link to Comment hambone
hambone's picture

I'm in for the Portland, OR event - anyone in PDX...here is the info

Occupy Portland is Portland's answer to the Occupy Wall Street movement happening in New York City. The demonstration of solidarity with the Wall Street protesters will begin at noon on Thursday, October 6th, 2011 with a march out of SW Waterfront Park. Following the march, a public space in Portland will be "occupied" and used a a central location for meetings, events, and communications.

Wed, 10/05/2011 - 19:32 | Link to Comment drink or die
drink or die's picture

I thought about it, but I still have a job.  Also, when the Portland anarchists inevitably show up and start acid etching/breaking windows, it'll make everyone look like a douche.

Wed, 10/05/2011 - 19:41 | Link to Comment hambone
hambone's picture

Yeah, I've got my trepidations about attending (I work in PDX and manage a team of folks...not sure I'm ready to come out of the ZH closet quite yet) and worried this event could be hijacked by jackass' who want more socialistic programs...but that's the point, it's gotta start somewhere than normal people (or whatever I am) start saying no fucking more.  No more lying, warring, fraud, socialism run amok, no more golden bailouts for Countrywide, BAC, Lehman, AIG, no more money printing to pay for shit we can't afford, no more politics as usual.  Blah blah blah.

Wed, 10/05/2011 - 19:48 | Link to Comment drink or die
drink or die's picture

Marching doesn't do much.  I'm using the Iraq war demonstrations as an example.  They will either die down or turn violent in the end.  IMO the best we can do as individuals is deprive the beast whenever possible the fruits of our labors, in order to hasten the inevitable implosion. 

 

Either way, good luck!

Wed, 10/05/2011 - 19:59 | Link to Comment hambone
hambone's picture

DoD,

I can respect your POV and thanks man...not overly optimistic about it but I'm willing to try anything to attempt to save this b4 it turns really ugly..I know it's a low probability gig but better than no chance if I resign myself to "the inevitable".

Wed, 10/05/2011 - 20:39 | Link to Comment gmj
gmj's picture

Hambone, the Portland crowd is too whacked out.  I won't even go downtown anymore.  You could end up in jail.  Your boss might not like that.  When the middle class starts protesting, I'll join in.  Besides, I'm not much of a follower.  I don't follow orders barked out by some smartass kid with a bullhorn.  I am repulsed by the mob, and run the other way.  Imagine if those Portland fruit loops got power.  I don't even want to think about it.

Wed, 10/05/2011 - 21:52 | Link to Comment doomz78
doomz78's picture

Unfunded Liability........

 

Ready???

115 800 000 000 000$

Thats 115 800 billion dollars.  Big picture.  Bankrupt.

Thu, 10/06/2011 - 00:26 | Link to Comment DeadFred
DeadFred's picture

"The real question is, Tyler, can we PLEASE have an open thread tomorrow once we pass 15,000,000,000,000 (15 trillion)?"

Perhaps a Parity Party instead, a kegger? I can bring homemade salsa- garden fresh tomatos.

Wed, 10/05/2011 - 16:32 | Link to Comment GenX Investor
GenX Investor's picture

That is more than the net worth of both Buffett and Gates if we confiscated all their wealth.

Wed, 10/05/2011 - 16:35 | Link to Comment GFKjunior
GFKjunior's picture

We could confiscate the entire forbes 400 list's wealth and be able to cover our government spending for about 6 months!

 

 

 

Wed, 10/05/2011 - 16:51 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

WHOSE GOING TO PAY THOSE 73 CENTS??

PLADIZOW'S BREASTS, I'M LOOKIN' AT YOU!

Wed, 10/05/2011 - 16:53 | Link to Comment Going Loco
Going Loco's picture

You could confiscate the entire net assets of the ancient nation state of Greece and cover your entire government spending for about... er.... oh.....

Wed, 10/05/2011 - 17:31 | Link to Comment CH1
CH1's picture

But it would slake the envy of  all those closet socialists for a little while!

Wed, 10/05/2011 - 18:04 | Link to Comment Pladizow
Pladizow's picture

To: GFKJunior and GenXinvestor - Kyle Bass?

Wed, 10/05/2011 - 18:35 | Link to Comment zerozulu
zerozulu's picture

This is what I expect to happen. And this is what I call," French Revolution II"

Wed, 10/05/2011 - 17:29 | Link to Comment Van Halen
Van Halen's picture

We were going to confiscate all their wealth but then Buffet and Gates had this real cool idea to have us confiscate everyone else's wealth instead and so we're busy doing that now.

Wed, 10/05/2011 - 17:32 | Link to Comment CH1
CH1's picture

That one was codified into law in 1913. Gates and Buffet are wannabes, hoping to be let into the game.

Wed, 10/05/2011 - 16:33 | Link to Comment Anonymouse
Anonymouse's picture

Appears to be Social Security, Medicare, or Medicaid as $120B of this is an increase in intragovernmental debt.

What others items are intra-governmental?  FDIC isn't, is it?

Wed, 10/05/2011 - 16:49 | Link to Comment mfoste1
mfoste1's picture

ehhh its just probably obummer spending tax dollars on golf or vacation

Wed, 10/05/2011 - 16:56 | Link to Comment RSloane
RSloane's picture

That's what I was thinking. Michelle go on vacation again?

Wed, 10/05/2011 - 17:31 | Link to Comment max2205
max2205's picture

I am shocked they report this anymore. We don't need to know this and they are bullshit numbers no one can verify anyway.

Wed, 10/05/2011 - 16:29 | Link to Comment Pladizow
Pladizow's picture

What $15 Trillion looks like: http://usdebt.kleptocracy.us/

Perhaps the US Gov is trying to reach a debt goal, like a thermometer guage to be colored in at a charity drive?

Wed, 10/05/2011 - 16:34 | Link to Comment SilverRhino
SilverRhino's picture

$162 billion in THREE DAYS.  

Ford class aircraft carriers cost about $9 billion each. 

For that amount of money the USA could have completely replaced EVERY USN CVN aircraft carrier afloat (11) and all of their aircraft.   And we spent it in THREE FUCKING DAYS.

 

Wed, 10/05/2011 - 16:40 | Link to Comment Motley Fool
Motley Fool's picture

You mean it's wasn't fast enough for you? I'm sure they will try harder. :P

Wed, 10/05/2011 - 16:41 | Link to Comment SilverIsKing
SilverIsKing's picture

Actually, they likely spent more than this since this is just the increase in debt.  Some of the spending would be funded from tax receipts so they are really spending more than just what they are borrowing.

Wed, 10/05/2011 - 16:45 | Link to Comment kito
kito's picture

yes, because thats all this country needs---to pump more money into the crony inflicted money pit that is called the pentagon.

Wed, 10/05/2011 - 17:00 | Link to Comment SilverRhino
SilverRhino's picture

Did I actually recommend a solution in that?  I was putting the $$$ flow into perspective.   Or can you find a BIGGER single discrete piece of machinery to illustrate the point? 

What $163 BILLION buys -  

  • 11 Ford class CVN aircraft carriers and planes.  
  • ~75 B-2 stealth bombers. 
  • 8000+ Apache helicopters. 
  • 38,000 M-1 Abrams battle tanks. 
  • 3.5 million man-years of labor (median income 2010, $46K)

Sort of drives the point home how MUCH $$$ this government is pissing away.

Wed, 10/05/2011 - 17:07 | Link to Comment kito
kito's picture

easy silver--never mess with a rhino......just had to say in case you had any ideas

Wed, 10/05/2011 - 17:14 | Link to Comment HankPaulson
HankPaulson's picture

Point very well made.

Actually the figure seems to be 323 million man-years of labor.

This does show how far the finance industry has become decoupled from the (real) lives of most human beings and the real world, and how enormous is the tail that is wagging the dog.

Wed, 10/05/2011 - 19:53 | Link to Comment ali-ali-al-qomfri
ali-ali-al-qomfri's picture

The pooch is screwed, that “tail”that is wagging the dog, is actually the remainder of the snake that crawled into the dog’s ass back around 1913 and has been a parasite since.

Wed, 10/05/2011 - 21:22 | Link to Comment Hi Ho Silver
Hi Ho Silver's picture

+1913

Awesome visual.  Thanks for the new email sig, I'll be sure and give credit.

Thu, 10/06/2011 - 11:10 | Link to Comment SilverRhino
SilverRhino's picture

Hank, I was quoting the $163 billion and stating how they spent 3.5 million man-years of $$ in three days but your figure of 323 million man years is for $14.858 trillion of debt.   Damn.   One guy working since the dinosaurs appeared (Triassic period, 225mya) wouldnt make up for that debt.   

Wed, 10/05/2011 - 17:27 | Link to Comment max2205
max2205's picture

Come on this money was just an advance payment for shit like this. Wait till you see the whole bill

Wed, 10/05/2011 - 16:26 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Nah, Timmy is just buying some NFLX.

Wed, 10/05/2011 - 21:28 | Link to Comment mailll
mailll's picture

Keep printing Uncle Ben, Uncle Sam needs every bill that comes out of the press, since foreigners aren't buying our debt anymore.  If it wasn't for total secrecy, we'd all know what you guys (Fed, Treasury dept.) are up to. Just let us know in advance when you are about to pull the plug and crash everything.

Wed, 10/05/2011 - 16:19 | Link to Comment Caveman93
Caveman93's picture

Amerika..chuggin along at a snails pace $2 and a quarter billion dollars per hour. We're sooo fucked!

Wed, 10/05/2011 - 16:23 | Link to Comment Almost Solvent
Almost Solvent's picture

Instead of the FED, Congress should just get a Black AMEX with no limit and earn some fucking points while they are making their minimum payments. 

 

 

Wed, 10/05/2011 - 16:29 | Link to Comment Ratscam
Ratscam's picture

Instead of the black centurion card i propose a grayish-silver titanium card with no limits on exec jets, corporate schmoosy dinners and hotel bills, but strict limits on expenses such as health care, food and gasoline.

Wed, 10/05/2011 - 16:57 | Link to Comment Nascent_Variable
Nascent_Variable's picture

It's looking like the latest debt ceiling hike might not hold up to the end of the year after all.

Wed, 10/05/2011 - 16:19 | Link to Comment Waffen
Waffen's picture

Jew Confetti?

Wed, 10/05/2011 - 16:45 | Link to Comment kito
kito's picture

fake tits really arent all that appealing. 

Wed, 10/05/2011 - 17:28 | Link to Comment WonderDawg
WonderDawg's picture

Eh, they're all fake unless you can touch 'em. Still appealing, though.

Wed, 10/05/2011 - 17:41 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

Very zen.

Thu, 10/06/2011 - 00:29 | Link to Comment DeadFred
DeadFred's picture

It's just not fair.

Wed, 10/05/2011 - 16:55 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

@Waffen,

Please refer to Pladizow on posting boobs as an avatar.

Your friendly TSA boob-inspector

Wed, 10/05/2011 - 17:10 | Link to Comment kito
kito's picture

yes pladizows were the real deal. too bad he removed them.

Wed, 10/05/2011 - 17:18 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Yep, I like my Flamin' FRN's as an avatar, supple boobs are very nice.

Wed, 10/05/2011 - 17:34 | Link to Comment Waffen
Waffen's picture

I looked for boobs(because I like them) in red, because its eye catching..Makes it very easy to find my posts in this archaic system.

Wed, 10/05/2011 - 16:19 | Link to Comment Van Halen
Van Halen's picture

Today's news in Obama's presidency: September layoffs highest in 2 years. Documents show ME-Chelle Obama squandered a fortune in taxpayer money on her Africa vacation, WaPo-ABC news poll shows opposition to Obama by ordinary Americans has grown strongly, Obama supporters swear at TEA Partiers, call black Congressional candidate a ni**er and an uncle Tom, more evidence comes out as well as calls for indictment on Eric Holder and his knowledge of the gunrunning operation, SEIU announces plans for economic terrorism in DC, Rasmussen latest poll: ANY Republican 47% Obama 41%, Friendly's restaurant chain filing for bankruptcy, has already closed over 50 stores, US debt went up $20 billion today for a three day increase of $162 billion.

And today's not over yet.

Wed, 10/05/2011 - 16:22 | Link to Comment Deadpool
Deadpool's picture

aside from that, Mrs. Lincoln, how was the play?

Wed, 10/05/2011 - 16:43 | Link to Comment I think I need ...
I think I need to buy a gun's picture

yeah but there was good news on the jobs market lately,,,,,,Target, Toy R Us and macys all ramping up hiring for the holiday season

Wed, 10/05/2011 - 16:54 | Link to Comment Van Halen
Van Halen's picture

So the people can dig themselves deeper into debt racking up holiday spending on their credit cards?

Wed, 10/05/2011 - 16:59 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Van Halen,

U.S. consumers do pile on top of each other for Black Friday sales items at BestBuy.

I agree we are fucked, the problem is there are too many to save.

Are the members in your rock band still alive?

Wed, 10/05/2011 - 17:02 | Link to Comment Van Halen
Van Halen's picture

LOL! Yeah, they're alive. Hopefully they'll tour next year. So we can spend money we don't have to make them richer. But the show should be good!  :)

Wed, 10/05/2011 - 17:22 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

China will have to fund Van Halen's tour as most ZHer's claim to be in AU and AG.

After the fiat collapse, we holders of metal won't be rich, we just won't be poor as fuck.

Wed, 10/05/2011 - 16:54 | Link to Comment Iriestx
Iriestx's picture

I'm sure if we get another fiscal conservative Republican in the white house, like George Bush, things will get on the right track, right?

Wed, 10/05/2011 - 16:56 | Link to Comment Van Halen
Van Halen's picture

We're long past the Bush blame now. Sure, he opened the door to this nightmare but for the last two and a half years Obama and the Marxists have been pushing us all through. And Bush was NO Conservative.

Wed, 10/05/2011 - 17:32 | Link to Comment WonderDawg
WonderDawg's picture

Ah, I beg to differ. If you want to point to any president in the last few administrations who "opened the door", it was Clinton who signed into law Gramm-Leach-Bliley. But it goes back further than that, if you want to get technical. The bottom line is administrations from both parties have had a hand in creating the disaster that we live with today.

Wed, 10/05/2011 - 18:21 | Link to Comment Troll Magnet
Troll Magnet's picture

If you want to get really technical about it, the fault lies with the apathetic American population-at-large that has bought into this two-party system and then got divided and conquered as well as those who didn't take part in the democratic process and left it up to those ignorant partisans from both sides to decide the outcome of every election.  We must all stick together and fight the corrupt power now.  

Wed, 10/05/2011 - 18:38 | Link to Comment Abitdodgie
Abitdodgie's picture

It was not just one presedent it was all of them they are on the same team, how many times do you kids have to be told that.

Wed, 10/05/2011 - 18:42 | Link to Comment Dyler Turden II Esq
Dyler Turden II Esq's picture

"Obama and the Marxists".

Are you mad? Or just illiterate?

Wed, 10/05/2011 - 19:32 | Link to Comment JR
JR's picture

Illiterate doesn’t seem to apply but if you mean mad as hell, that certainly would include me.

As for Marxism, Michelle Obama put the Obama philosophy rather succinctly: They want a bigger piece of the pie, your pie. That old couplet written by some Englishman fits Obama and his Liberal handlers to a “T.”

To spread the wealth the Communist’s willing:

He’ll tax your pennies and keep his shilling.

Wed, 10/05/2011 - 20:01 | Link to Comment The Fonz...befo...
The Fonz...before shark jump's picture

Bush and Obama yup...ever hear of the 3 Antichrists that will push the world to the brink...Nostradamus talks of them
1st Napoleon
2nd hitler
3rd yet to be seen is Mabus

Some have said the 3rd is the time of turmoils that the world will see during the bush Obama years...mabus. A mash up on their destructive administrations

And how evil was allowed to reign

Wed, 10/05/2011 - 17:04 | Link to Comment Van Halen
Van Halen's picture

Folks, we've got another Obama Presidency news update! Lightsquared partner - $267 million Federal loan recipient has gone under! Hooray!

http://michellemalkin.com/2011/10/05/scandal-watch-lightsquared-partner-...

Wed, 10/05/2011 - 17:31 | Link to Comment Manthong
Manthong's picture

Only a quarter billion taxpayer dollars..  chump change nowadays, except your kids are the chumps.

Wed, 10/05/2011 - 21:44 | Link to Comment mailll
mailll's picture

Don't worry, the fall guy (Obama) won't run again. The Elite have chosen Hillary for 2012, and us suckers will vote her in. (No inside info, just my opinion).

Wed, 10/05/2011 - 16:20 | Link to Comment The Fonz...befo...
The Fonz...before shark jump's picture

That debt clock in New York is gonna explode baby

Wed, 10/05/2011 - 16:34 | Link to Comment hambone
hambone's picture

Every billion in debt means $20 more in debt per America's 50million Federal taxpayers...that's $3240 added in principal over the last three days per Federal taxpaying citizen.

This added principal on the American credit card has an adjustable rate that's ever so low now costing us nearly zero in interest payments, so shouldn't we just charge away if it's free???...thank god interest rates can only move one way (and home prices can only go up).

Wed, 10/05/2011 - 16:42 | Link to Comment Motley Fool
Motley Fool's picture

Thank god for that, otherwise there might be reason to be a little bit worried. But luckily there isn't.

Wed, 10/05/2011 - 17:25 | Link to Comment hambone
hambone's picture

Yep, only $297,137 per Fed tax payer...and that's on an interest only negative amortizing balloon payment loan.   Debt / GDP 1:1 but debt growing 10% anum, GDP @ 1.5% anum.

I'm sure that will work out well. 

Funny, times like this I get nostalgic...seems like I remember only a scant 11yrs ago in 2000 when we had $5T, and only 3yrs ago 2008 when we had $10T...my how the time flies when you're having fun (w/ other peoples money)!!!

Wed, 10/05/2011 - 18:17 | Link to Comment hambone
hambone's picture

BTW - on an infinity yrs, interest only loan ($300k @ 4%*) every Federal tax payer owes $1000 /month to finance the interest payments (absent printing)...that's on top of all other existing taxes.  Yeah, I think they'll go the monetization / printing route.

(*4% is a full % below the 50yr average cumulative interest paid for US debt)

Wed, 10/05/2011 - 18:20 | Link to Comment Motley Fool
Motley Fool's picture

Was that ever in doubt?

Wed, 10/05/2011 - 18:34 | Link to Comment hambone
hambone's picture

No doubt for you and I - but the math is getting so ludicrous that if you try to explain this to financial laypersons, they think the math must be wrong...Games over for the Ponzi when the average person realizes that the system is gone and it's every man/woman/child for himself.

Wed, 10/05/2011 - 16:20 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

When you have this much debt, it's the creditors problem. It's all funny money anyway... this whole world economy is a ponzi scheme, wrapped in a shell game, smothered in a nice thick layer of confidence trickiness.

Wed, 10/05/2011 - 16:20 | Link to Comment cubical
cubical's picture

Debt 15,000,000,000,000 glasses anyone?

Wed, 10/05/2011 - 16:38 | Link to Comment sudzee
sudzee's picture

Looks much better this way:

15000000000051

Wed, 10/05/2011 - 17:02 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

15 x 10^12 glasses would be more comfortable than 15,000,000,000,000 glasses.

Wed, 10/05/2011 - 17:08 | Link to Comment Cui Bono
Cui Bono's picture

I got it.... If we could get Gatorade or Dr. Pepper to print a reallllllly big check and present it to Owebama at half time of the game of the week we'd have a wicked fine photo op and get all warm and fuzzy as a nation......CB

Wed, 10/05/2011 - 16:24 | Link to Comment Fips_OnTheSpot
Fips_OnTheSpot's picture

Look - a bubble!

 

Thinking about it, I think that is: OUTSTANDING

Wed, 10/05/2011 - 16:21 | Link to Comment Deadpool
Deadpool's picture

It's all Greek to me...

Wed, 10/05/2011 - 16:23 | Link to Comment hambone
hambone's picture

Sooooo, is a trillion more or less than a million???  Are we winning?  This won't affect the MLB or NFL or me, will it?

Thanks

Joseph Six Pack

Wed, 10/05/2011 - 18:28 | Link to Comment Troll Magnet
Troll Magnet's picture

No, but we may get less Amanda Knox coverage so I think we're losing right now.  

Wed, 10/05/2011 - 16:23 | Link to Comment Harbourcity
Harbourcity's picture

Explains why the stock market is still chugging along...

Wed, 10/05/2011 - 16:37 | Link to Comment gunsmoke011
gunsmoke011's picture

Agree - If the truth were known, which is about like saying the tooth fairy and Easter Bunny are real - this probably explains the Tuesday Turnaround and today's follow through as well as any bullshit rumor coming out of Europe every otehr day.

Wed, 10/05/2011 - 16:48 | Link to Comment junkyardjack
junkyardjack's picture

Well all that money has to be flowing into the economy somewhere

Wed, 10/05/2011 - 16:23 | Link to Comment Messianic
Messianic's picture

Is there any way to track where that money is going? The foregone conclusion is Greece, Europe, etc, but is there any empirical way to know?

Wed, 10/05/2011 - 16:24 | Link to Comment Fips_OnTheSpot
Fips_OnTheSpot's picture

"down the drain"

Wed, 10/05/2011 - 16:27 | Link to Comment cossack55
cossack55's picture

No.

What? You think you live in a representative republic or something?

Wed, 10/05/2011 - 16:49 | Link to Comment saulysw
saulysw's picture

This video explains where it's all going...

 

http://www.youtube.com/watch?v=eyS5n0ByLag

Wed, 10/05/2011 - 16:26 | Link to Comment fyrebird
fyrebird's picture

I can account for about $300 of that number; I charged a new kilt and hose to my Visa card.

I'll be more frugal starting next month. Promise.

Wed, 10/05/2011 - 16:26 | Link to Comment RobotTrader
RobotTrader's picture

Like it really matters.

Interest rates are the lowest in 45 years.

U.S. Treasuries are the most liquid, most sought after instruments of the last 35 years.

The more they print, the faster demand grows.

What other asset class has had two bubbles in4 years after a 32 year bull run?

Right now, "Paper" rules over "Hard Assets"

Why worry?

Wed, 10/05/2011 - 16:28 | Link to Comment tmosley
tmosley's picture

Bubbles burst.  When did the treasury bubble burst?

It didn't.  That means it is coming.

You sure are overly concerned with the immediate, rahter than thinking about even the near future, much less the mid or long term picture.

Wed, 10/05/2011 - 16:31 | Link to Comment pods
pods's picture

Yeah, and with all the "positives" you noted the economy still cannot find water if it fell off a boat.

pods

Wed, 10/05/2011 - 16:32 | Link to Comment Messianic
Messianic's picture

All I heard was "Housing prices never go down" and "ARMs are the way to prosperity"

Wed, 10/05/2011 - 16:45 | Link to Comment LawsofPhysics
LawsofPhysics's picture

enjoyed the recent bump in treasuries.  Think I am topped off and sold some treasuries for more silver.  Don't care if silver holds, this is physical.

Wed, 10/05/2011 - 17:34 | Link to Comment disabledvet
disabledvet's picture

The USA could repudiate the debt...you know "rack up the zero percent finance thing" and then...

Wed, 10/05/2011 - 18:13 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Let's do it now, and give today's toddlers a chance.

Wed, 10/05/2011 - 18:11 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Every dollar of UST debt is a drain on productivity in the real economy. At some point (which we have probably now passed IMHO) it becomes impossible to grow GDP. That's "Why worry?"

Wed, 10/05/2011 - 16:24 | Link to Comment doomz78
doomz78's picture

Does anyone know where this money is going?   seriously.  Where is the monopoly money going??  A bank?  50 Banks?  Is this QE3? 

Wed, 10/05/2011 - 16:29 | Link to Comment fyrebird
fyrebird's picture

There are only 3 people in the entire world who know where this money is going.

Ben is one of them.

But even Ben doesn't know who the other two are.

Wed, 10/05/2011 - 16:32 | Link to Comment bid the soldier...
bid the soldiers shoot's picture

A lot of it goes right to Money Heaven.

Wed, 10/05/2011 - 16:35 | Link to Comment RobD
RobD's picture

They tell me Michelle was at Target the other day.....

Wed, 10/05/2011 - 16:37 | Link to Comment Deadpool
Deadpool's picture

pensions, public services employee health care, military and government worker salaries, Amtrak, post office, oil imports, interest payements on debt. the last one is the killer.

Wed, 10/05/2011 - 18:02 | Link to Comment Kiwi Pete
Kiwi Pete's picture

Aren't they just repaying the social security money they borrowed earlier when they reached the debt limit?

Wed, 10/05/2011 - 22:29 | Link to Comment lano1106
lano1106's picture

I would assume that since it is public money, the info on where it goes should be public. If not this is a huge problem!

 

Wed, 10/05/2011 - 16:26 | Link to Comment j.tennquist
j.tennquist's picture

All I want is 1 million dollars and I will shut up and never be heard of again.  
If they can spend/waste 20 billion overnight, they can easily shave off a piddling million for a law abiding greedy citizen. 

Wed, 10/05/2011 - 16:29 | Link to Comment cossack55
cossack55's picture

Hell, for $1.5 mill I will start supporting the Fed, JPM, BoA and GS.  I'll even vote for one of their stooges.

Wed, 10/05/2011 - 17:09 | Link to Comment Going Loco
Going Loco's picture

"Hell, for $1.5 mill I will start supporting the Fed, JPM, BoA and GS.  I'll even vote for one of their stooges."

Why are you selling yourself so cheaply, cossack55? Is that all your prostitution is worth? A measly $1.5MM? A decent hooker can be worth more than that and all she is selling is her body, not her soul.

Wed, 10/05/2011 - 16:47 | Link to Comment The Fonz...befo...
The Fonz...before shark jump's picture

no deal pal, those wacky bernake bucks belong to the banksters

Wed, 10/05/2011 - 16:27 | Link to Comment Josh Randall
Josh Randall's picture

And LIESMAN's getting LAAAAAAAAAAAAAAAAAARGER

http://www.youtube.com/watch?v=7YybHEfNzT0

Wed, 10/05/2011 - 17:13 | Link to Comment AbelCatalyst
AbelCatalyst's picture

Great clip!!  

Could you write a better story with someone who's first four letters of his name embodies his entire character?  Seriously, is this all one big script? Nothing to see here...  move on...    

Wed, 10/05/2011 - 18:07 | Link to Comment cbxer55
cbxer55's picture

Looks like I picked the wrong week to quit sniffing glue!!!!!!

http://www.youtube.com/watch?v=VmW-ScmGRMA&feature=related

Wed, 10/05/2011 - 16:30 | Link to Comment White.Star.Line
White.Star.Line's picture

The captain has assured us that this ship can take on much more ice.

Please relax and enjoy the cruise. Leave the driving to our professional White Star Line crew.

Wed, 10/05/2011 - 17:05 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Hey Captain, she's unsinkable right?

Are we still ahead of schedule?

Wed, 10/05/2011 - 22:55 | Link to Comment bid the soldier...
bid the soldiers shoot's picture

Hey, where are all the life boats? Below decks?

Wed, 10/05/2011 - 16:28 | Link to Comment Racer
Racer's picture

I don't know a word to describe this!

Wed, 10/05/2011 - 16:28 | Link to Comment JupiterAndBeyond
JupiterAndBeyond's picture

"Markets will rise and fall, but this is the United States of America. No matter what some agency may say, we've always been and always will be a triple-A country." -President Obama

Wed, 10/05/2011 - 16:39 | Link to Comment Deadpool
Deadpool's picture

true dat, American Automobile Association.

Wed, 10/05/2011 - 17:17 | Link to Comment RichardENixon
RichardENixon's picture

Soon to be downgraded to AA, Alcoholics Anonymous

Wed, 10/05/2011 - 17:31 | Link to Comment Van Halen
Van Halen's picture

That was downgraded to WTF.

Wed, 10/05/2011 - 16:28 | Link to Comment papaswamp
papaswamp's picture

So debt to GDP is 98.9%....debt to chain weighted (2005) GDP is 112%. Looks like it's time for a much larger rally tomorrow.

Wed, 10/05/2011 - 16:30 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Don't bogart that KY.

Wed, 10/05/2011 - 16:33 | Link to Comment RobotTrader
RobotTrader's picture

 

GDX/GLD ratio hit 2-yr. lows yesterday and turned up today.

http://stockcharts.com/h-sc/ui?s=GDX:GLD&p=D&yr=2&mn=0&dy=0&id=p07821964721

Gold bugs invested in PM stocks better hope for Dow 15,000 if they want to see their stocks back to the spring 2011 highs.

That means a 300% gain necessary on names like UXG.

So you guys should be rooting for higher deficits and more spending and a bigger Fed.

Not the other way around.

Wed, 10/05/2011 - 16:34 | Link to Comment pods
pods's picture

Ummm, gold bugs own GOLD, not stocks.

They may trade with stocks or play with stocks, but own GOLD.

pods

Wed, 10/05/2011 - 16:34 | Link to Comment The Deleuzian
The Deleuzian's picture

Robo:  You only look at the indices...That is surely a mistake

Wed, 10/05/2011 - 16:38 | Link to Comment j.tennquist
j.tennquist's picture

"So you guys should be rooting for higher deficits and more spending and a bigger Fed."

Gee... do we have a choice, or does it even matter????

Wed, 10/05/2011 - 17:09 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Nope. Wrong. Once. Again.

Wed, 10/05/2011 - 18:33 | Link to Comment jomama
jomama's picture

it amazes me how people still don't get robo. lmao.

Wed, 10/05/2011 - 18:40 | Link to Comment andybev01
andybev01's picture

I miss Hamy, Harry, etc...

Wed, 10/05/2011 - 16:32 | Link to Comment Dr. Gonzo
Dr. Gonzo's picture

14.86 trillion....and 73 cents? You don't have to bother keeping track of the pennies like Ebeniser Schrooge. We're going to pay every penny of it back when things turn around for us. Promise. Now could you borrow some more and make up some good paying jobs for us so we can start paying back the money you create out of thin air please? This thing is on the verge of turning around. I can feel it.

Wed, 10/05/2011 - 16:32 | Link to Comment The Deleuzian
The Deleuzian's picture

Here comes the crack-up

Wed, 10/05/2011 - 16:32 | Link to Comment LongSoupLine
LongSoupLine's picture

Bob Pisani says, "WHat's important here, is the market rallied TWO days in a row! This is bullish."

Wed, 10/05/2011 - 17:13 | Link to Comment Bay of Pigs
Bay of Pigs's picture

BNN in Canada had Abby Joeseph Cohen on this morning spewing her fantasyland nonsense.

They are quickly losing credibility putting here on there.

Wed, 10/05/2011 - 16:33 | Link to Comment Unprepared
Unprepared's picture

Soon enough, we will need Cantor's set theory to account for all of this ... Infinity of infinities

Wed, 10/05/2011 - 16:34 | Link to Comment r101958
r101958's picture

So, in reality, last years deficit was 1.4T.

Wed, 10/05/2011 - 16:34 | Link to Comment Vincent Vega
Vincent Vega's picture

Not to worry. Assuming a constant rate of $162B every 3 days we won't hit a quadrillion for 489 years. We should be fine.

Wed, 10/05/2011 - 17:02 | Link to Comment The Deleuzian
The Deleuzian's picture

What?  Math off?

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