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US Closes 2010-2011 Fiscal Year With $14,790,340,328,557.15 In Debt, $95 Billion Jump On The Day, $1.2 Trillion Increase In One Year

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Mon, 10/03/2011 - 16:21 | 1734374 swissaustrian
swissaustrian's picture

United States of Weimar, bitchez! 10 % Debt increase every year... Soon it´ll be 100%

Mon, 10/03/2011 - 16:23 | 1734388 redpill
redpill's picture

Well we have to have a $15 Trill party soon, who's bringing the cupcakes?

Mon, 10/03/2011 - 16:25 | 1734407 ratso
ratso's picture

Good to see that we winng one race.  The race to the bottom.

Mon, 10/03/2011 - 17:08 | 1734621 Fukushima Sam
Fukushima Sam's picture

We are definitely Winning the FutureTM!

Mon, 10/03/2011 - 16:27 | 1734415 Cash_is_Trash
Cash_is_Trash's picture

I once went to a $15 Trill party that had cupcakes, and all I got were these useless "Hope Bonds" worth $493 billion.

Mon, 10/03/2011 - 16:47 | 1734532 kito
kito's picture

be smart. go long on "bonds"---strong "bonds" with neighbors, family and friends who you rely on as this meltdown begins to progress.............

Mon, 10/03/2011 - 16:46 | 1734529 Smiddywesson
Smiddywesson's picture
No Problemo dude, we're gonna grow out of our debt.  Poof! Problem solved. My Little Pony, My Little Pony
Isn't the world a lovely place

My Little Pony, My Little Pony

Everywhere you go, a smiling face

Running and skipping; merrily tripping

Watching the morning unfold

My Little Pony, My Little Pony

What does the future hold?

No sign of trouble in sight

My Little Pony, My Little Pony

May all your days be bright

May all your days be bright

Mon, 10/03/2011 - 16:51 | 1734550 Dr. Richard Head
Dr. Richard Head's picture

The 2011 version of My Little Pony has a new pony coming out for the banksters.  This year's will be in the theme of the Unicorn Ponies.  Prints Printly will be the name of the Ben Bernanke inspired doll.  While all of the other ponies have beautiful flowing manes, Prints Printly will have his flowing beard that you can comb and style all you want.  His emplem will be a toner cartridge on his ass with dollar signs.

"Calling WilliamBanzai"

Order yours now. Supplies are limited.

Mon, 10/03/2011 - 17:49 | 1734774 mikla
mikla's picture

Take my money

Mon, 10/03/2011 - 16:47 | 1734531 Silver Me Timbers
Silver Me Timbers's picture

Tyrone Biggums $15 Trillion crack party!

Mon, 10/03/2011 - 16:56 | 1734571 Dapper Dan
Dapper Dan's picture

Perspective

 

One million seconds comes out to be about 11½ days

A billion seconds is 32 years.

And a trillion seconds is 32,000 years.

Read more: http://www.time.com/time/business/article/0,8599,1870699,00.html#ixzz1ZkpJw31D

Mon, 10/03/2011 - 17:35 | 1734721 bmwm395
bmwm395's picture

The HFT better kick it in gear.

Tue, 10/04/2011 - 00:50 | 1736044 Uncle Remus
Uncle Remus's picture

For the bake sale?

Mon, 10/03/2011 - 16:24 | 1734396 dwdollar
dwdollar's picture

Yep.  We'll be lucky to be at or under 110% Debt/GDP next year this time.

Mon, 10/03/2011 - 16:30 | 1734429 Sophist Economicus
Sophist Economicus's picture

This is ACTUALLY GOOD for you.    The more debt they create, the more credit that extends beyond existing dollars.    This will make it even more deflationary and dollar purchasing power will increase.    If they can get the debt to 200% of GDP, you dollar will buy probably five times as much as it does today!   I'm personally hoping for 10x GDP, that way I can buy the NY State Thruway for about $50....Don't believe me, just ask Prechter or Shiller

Mon, 10/03/2011 - 16:43 | 1734512 Spirit Of Truth
Mon, 10/03/2011 - 16:43 | 1734511 Esso
Esso's picture

What happens if you use the real numbers of $200+ trillion debt (inc. unfunded liabilities) and the actual GDP of $1.7 trillion?

My calculator doesn't have near enough digits.

FWIW, the claimed GDP of $15 trillion breaks down to ~$60,000 per citizen. I only personally know of only two people producing anywhere near that much in goods or services. I know plenty who are taking out that much with government pensions, SS, Medicare, welfare, food stamps, etc. 

Mon, 10/03/2011 - 17:19 | 1734665 fuu
fuu's picture

Uh lop off all the zeros and use 200 and 1.7? Which is a really ugly number.

Mon, 10/03/2011 - 17:46 | 1734754 Lord Koos
Lord Koos's picture

We're gonna need calculator inflation for 2012.  More zeros for the people!

Tue, 10/04/2011 - 05:00 | 1736268 StychoKiller
StychoKiller's picture

Sorry, Clowngress has cornered the market on zeroes! :>D

Mon, 10/03/2011 - 16:27 | 1734422 iDealMeat
iDealMeat's picture

Mr. Paul.  You are being handed a gift.. There is no better time then now to haul in some FED board members. Public is on your side.. You have this opportunity to END the FED.. Do something about it.

 

 

Mon, 10/03/2011 - 17:07 | 1734617 RSloane
RSloane's picture

Hell yeah!!! GO FOR IT.

Mon, 10/03/2011 - 16:30 | 1734442 mfoste1
mfoste1's picture

keynesian endgame biotch!

Mon, 10/03/2011 - 17:22 | 1734674 RSloane
RSloane's picture

It is exactly the Keynesian endgame. We have got to get rid of these vultures.

Mon, 10/03/2011 - 16:31 | 1734447 unky
unky's picture

Yet the dollar is rallying against Euro and also Gold and Silver during the past month, how can this be?

Mon, 10/03/2011 - 16:33 | 1734452 SilverRhino
SilverRhino's picture

SHEEP

Mon, 10/03/2011 - 16:34 | 1734459 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

China likes cupcakes?

Mon, 10/03/2011 - 16:54 | 1734557 CvlDobd
CvlDobd's picture

Its like they say.

Markets can remain irrational longer than you can remain solvent.

Mon, 10/03/2011 - 16:32 | 1734450 LawsofPhysics
LawsofPhysics's picture

Damn, beat me to it.  Let's hope we are all better armed than the farmers of Weimar were during thier period of discontent.  Now the shit gets interesting.  My guess is that in the summer of 2012 the shit gets real.

Mon, 10/03/2011 - 17:02 | 1734592 Strider52
Strider52's picture

Butch Cassidy: "Hey, you didn't see LaForce out there, did ya?"

Sundance: "No."

Butch Cassidy: "Whew, for a minute there I thought we were in trouble."

Moments later...

Mon, 10/03/2011 - 16:21 | 1734375 Hearst
Hearst's picture

Ronald Regan campaigned for a return to the Gold standard.

 

http://www.youtube.com/watch?v=qxEq2LWUPzc&feature=player_embedded

Mon, 10/03/2011 - 16:23 | 1734390 swissaustrian
swissaustrian's picture

A former actor should´nt have to use a teleprompter for a 30 seconds ad.

But anyway: This is great for the Ron Paul campaign...

Mon, 10/03/2011 - 16:35 | 1734469 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

No wonder Bush had him shot, Ronnie was about to scalp his ponzi.

Mon, 10/03/2011 - 17:37 | 1734727 Last_2_Sense
Last_2_Sense's picture

All we need is for the power to create money returned to the Treasury so that we are not paying a privately owned bank intrest on the tool we use for trade. Back it with whatever you want, gold, silver, labor, full faith and creidit of the Gov, cupcakes whatever as long as we dont get charged intrest for it's creation. Getting some honest politicians in office would help too, GO Ron Paul!!

Mon, 10/03/2011 - 16:21 | 1734378 falak pema
falak pema's picture

no problem, reserve currency and MIC that rules the world. So say the ayes...

Mon, 10/03/2011 - 16:21 | 1734379 Clorox Cowboy
Clorox Cowboy's picture

Whoa..."$14,790,340,328,557.15 trillion" is like 14.8 octillion or something!!  We're doomed!

Mon, 10/03/2011 - 16:23 | 1734398 Sophist Economicus
Sophist Economicus's picture

I wonder who was the chump that got the 15 cents?

Mon, 10/03/2011 - 17:08 | 1734620 RSloane
RSloane's picture

LOL!

Mon, 10/03/2011 - 20:36 | 1735290 krispkritter
krispkritter's picture

That was me. Then the IRS called, said they wanted it back and fined me $11,356 for underpayment of taxes. I took a dump in a USPS Flat Rate envelope and shipped it to them for $4.75 and used my Obama-loving neighbors address and SS# on the shipping label and called them a bunch of thieving whores. I think his house has been empty for several days now. Oh well, where's the fun in owing .15? Not like a nickel is worth a nickel anymore...

Mon, 10/03/2011 - 16:26 | 1734382 hedgeless_horseman
hedgeless_horseman's picture

Perhaps it is about time someone demanded that all those lunatics who say that issuing debt for the sake of growth (and pushing the S&P higher of course) be finally locked away in perpetuity, and the key dropped into the deepest volcano in Mordor.

Tyler, it is exactly this type of thinking that got us into this mess!  What, do you work for the prison guard union?  Much, much, cheaper to just drop the lunatics in the volcano.  Somebody fly, I will push 'em out the door.

Mon, 10/03/2011 - 16:22 | 1734384 Sophist Economicus
Sophist Economicus's picture

Net net, in the past fiscal year, the US has issued a total of $1.228 trillion in new debt and has accelerated over time. At a rate of $125 billion per month, total US debt to GDP will pass 100% in just over a month

 

Clearly deflationary...

Mon, 10/03/2011 - 16:35 | 1734467 pods
pods's picture

It sure will be once we default.

pods

Mon, 10/03/2011 - 16:59 | 1734565 Smiddywesson
Smiddywesson's picture

LOL.  Think of it as riding a bus right into a bottomless pit of debt.  It doesn't matter that the bus was headed to Deflationville when it falls over the edge.  Prechter will be right until too much printing breaks the currency, then all his subscribers crowded into treasuries will be ruined.

Mon, 10/03/2011 - 16:23 | 1734391 tekhneek
tekhneek's picture

1/10th of a trillion in 1 day? Really?

Jesus H. Christ... hyperinflation anyone?

Mon, 10/03/2011 - 16:29 | 1734434 Cash_is_Trash
Cash_is_Trash's picture

Ahh... but the unfunded liabilities make the future so much worse.

Something like 60 trillion worse.

Debt-death spiral HO!

Mon, 10/03/2011 - 16:31 | 1734444 tekhneek
tekhneek's picture

That's the problem though, I just don't see them letting it spiral down. I see them printing until they can't anymore to paper over the losses.

Mon, 10/03/2011 - 16:35 | 1734468 LawsofPhysics
LawsofPhysics's picture

Will this be bad for tourism?  What about immigration?  This is going to get interesting quick.

Mon, 10/03/2011 - 16:40 | 1734491 Cash_is_Trash
Cash_is_Trash's picture

The Gubmint will rather print and print than recognize they fucked up, again... and hit the reset button.

Mon, 10/03/2011 - 17:02 | 1734589 Smiddywesson
Smiddywesson's picture

I also don't see them letting it spiral down.  I see them pulling the plug when they can't get cheap gold anymore.  When the paper gold market seizes up, its game over and they announce that they fixed everything by putting us on a gold referrenced standard.  Then they retire and brag about how what heroes they were, when in fact they destroyed the middle class and ensured slavery for all.

Mon, 10/03/2011 - 17:45 | 1734753 Last_2_Sense
Last_2_Sense's picture

Even on the gold standard the Fractional Lending scam is still there, money needs to be printed by the Gov for use by it's citizens end of story. Though I'm not sure it would work with the crooked bastards that the Bankers put in office. Fire the Liars and fix the cash just like Andrew Jackson, and maybe we could pull ourselves up out of this mess. 

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