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US Debt/GDP Hits Post WW2 High 99.5% Following $55 Billion Overnight Debt Increase: Total Debt Now Over $15.1 Trillion
It seems like it was only yesterday that we celebrated 15,OOO,OOO,OOO,OOOBAMA day. Two weeks later, we are now well over 100 billion in debt over this historic landmark, or $15.11 trillion to be precise, following the predicted $55 billion increase in debt with the settlement of all auctions from last week. And aside from the mind-staggering rate of new debt increase why else is this number notable? Because as we learned 10 days ago, total Q3 GDP in current dollars is $15.18 trillion. In other words, US debt/GDP is now 99.5%, the highest it has been in the post WW2 period, and rapidly rising. What is worse is that the delta to 100% debt/GDP is only $70 billion: this is about half of the next two weekly gross issuances of 3,10,30s and 2,5,7s of about $160 billion over the next two weeks. In other words by the end of 2011, debt/GDP will finally be a triple digit number percentage. And the other notable thing is that the debt limit still is $15.194 trillion. It is ironic that the economic growth ceiling and the debt issuance ceiling are now one and the same: if the the debt target number does not rise neither will the US economy. Q.E.D.
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Debt, bitchez
We are the 99(.5)% bitchez!
What’s all the uproar?
It seems that most of Americans never bothered themselves to learn living within their means, save some money, plan for the future, get a decent education and avoid credit at all.
The blame must be placed specifically on the so-called Baby Boomers, a failed generation who really enjoyed the prosperity of the 50s and 60s; instead, they focused all of their deprived intellect in experimenting with all types of drugs and having very promiscuous sexual lives. These people have done nothing for this country and now they are so scared of potentially not being able to collect their government entitlements (paradoxically, they are the majority).
Therefore, America as a broken society is now paying the consequences of its own greed, lack of common sense and stupidity.
Someone said that Americans are just a bunch of stupid animals easy to manipulate and subdue. The sooner the US economy collapses the better, so the ignorant populace will finally learn NOT to live beyond their means – and stop blaming the government, since they don’t give a crap about people’s grievances.
Go to bed, old man! Savin' is for chumps! How's that ZIRP working out for you?
so what are we runnin here, 150B a month?
At least.
We could breach the debt limit next week if the issuance is large enough.
here's a cool site: http://www.usgovernmentspending.com/debt_deficit_history
Hey Wankster, after you got done copy and pasting, when you coughed did you fart dust?
Hey Wanker,
Is that all you ever do? Bash Americans all day long?
What shithole are you from anyway?
Judeo-Gucci Off Balance Sheet Exponentialism McBitchez
He's a kid who can't directly blame his baby boomer parents because they will spank his bottom.
I'm pretty sure Wank is a programmed bot. He cuts and pastes the overwhelming majority of his responses right after a story is posted and never replies to any criticisms.
What about Europe? Far worse than America and allowed a union to be formed. Not that smart in my opinion. We see the outcome of that experiment everyday. Its hard to call Americans stupid animals when the Europeans look like the goat.
It was also those same baby boomers that saved your mother from eating a gigantic German cock everyday during the war. Typical panzy fucking wanker. You got balls now?????
Where were your balls when we had to come rescue your pathetic asses??
Oh boy the Germans... That would have been sooo bad... Besides, aren't we talking about a different generation?
Wrong generation. The Greatest Generation was the one that fought in WWII.
Baby boomers were their spoiled brat childern. The "Me' generation whose parents gave them everything they wanted and enjoyed Americas new status as post war economic superpower.
Don't u love retarded comments? You're correct, prior poster is fucking retarded. They're called 'baby boomers' because they were the POST WW2 BABY BOOM. These are the lsd, free love, woodstock generation.
And for what its worth, the US was under NO threat of german invasion. Hawaii wasn't even a US state at the time of pearl harbour. The germans overextended themselves in russia and got bogged down in winter. Not saying we shouldn't have helped europe, but don't be under any false pretenses that the usa was under threat. Only our when supply ships were under threat.
Nobody has ever been able to give me an example of one thing that boomers contributed to society besides harsher drug laws and higher debt ceilings.
Lets take a look at a few misconceptions:
They went to the moon: wrong- the golden generation did
They fought WWII: wrong - the golden generation did
They built up our industry: wrong - again, the golden generation
Skip ahead about 20 or so years of complete unproductivity to 1980
The internet is born, the boomers must have done that: nope! Gen X did
Get my drift??
Viagra?
Totally agree. I have argued this with baby boomers myself. I tried to tell them they did nothing for society except waste. Then they tell you how fortunate us Gen X is. Well we are and I thank the generation before the boomers for it. Not them. And Gen x and Gen Y is the truly awaken people in the society because truthfully most boomers are the gulible ones who believe anything MSM puts on that brainwashing tube. Gen X and Gen Y are the ones standing up to the elite. Its the brainwashed boomers who knock us back down for trying to be free. Again this era is doing nothing but being a waste and knocking their children and great grand children down for thinking rational. Dont believe it put on any MSM channel and listen to the shit that comes out their mouths then look who votes for the liars and watches the bullshit. Demographic majority is the boomers.
This is not meant to the boomers who are awake and know how the game is played.
You mean the generations X and Y who overwhelmingly supported the candidacy of Barack Obama, believing him to be the most transformational character in human history since Jesus Christ?
Can't argue that but hard to vote for a quack like McCain at that time. Obama was a smooth talker. He said everything the people wanted to hear. Can't blame the people for him being a liar. I know a lot of obama backers that are black and white and all would take their vote back. Its kinda like ordering a product over the internet. Description says its this and that and its what you want to hear. Then you get it seeing its made in China and is a POS. Same concept. The Jesus Christ super stardom comes from MSM backed by the boomers. The boomers put him there also. Takes 2 to tango.
and now we're supporting Ron Paul
Steve Jobs was a baby-boomer, as is Bil Gates although, arguably Billy didn't do quite as much as Steve as regards society. Still he has managed to get a bunch of the naysayers to jump through his hoops.
These 2 are only the tip of the iceberg.
I might also add that all of us good for nothing baby boomers have paid in to the entitlement programs which have been systematically drained by our elected officials most lately to balance the budget which is impossible if they won't quit spending more than they take in.
I can hardly wait til they kick the frigging can that one last time and it falls over the edge of the cliff.
You're right, it wasnt a ccomplete waste. However you must feel some sort of anger towards your generation for alecting the officials that did that to your retirment accounts. Perhaps taking whats left of everyone's social security will be the warm milk to put you back into docile submission one final time.
Stoploss, please take a basic history course. The boomers are the result of WWII.
Thou but need taketh our toys away, for we are over fond of gadgets that make loud noises and spreadeth shrapnel. Our leaders are distressed with great desire to fully please their masters and loth to relinquish their treasures.
Please, with haste forthwith, tell us how we might drive this great engine of change oh great Wankel?
Cut and paste much you old fart?
Yeah it is the same thing he always posts.
However I also blame boomers for this debt as well as fdr and the new deal socialists.
Overshoot's a bitch.
"Someone said that Americans are just a bunch of stupid animals easy to manipulate and subdue."
Thank you. And if there are not enough stalls for them in the barn, or grain to feed them, like other animals they become unruly. And like good farmers do, they need to be put down; or at least control their breeding.
But they not nearly as docile as Zeropean animals. Hell you can get them to do anything. March into machine gun fire, load each other into ovens. Great bunch.
Like it or not, Wank is partially correct. Although I never want to see this country fall on hard times and collapse (which it WON'T), the facts remain that the boomers are largely responsible for the de-industrialization of America, and the debt, and our energy dependency, and the trade deficit, and Social Security and Mdei-Care shortfalls, and soon to be bankrupt pensions. They were the pinnacle of American society and now my X generation must pay the price for their stupidity.
Wank is DEAD ON! Sickest, most depraved, most selfish and self centered generation in the history of mankind (and I'm tail/suck-end Baby Boom myself -- 1962). I call it the "Ice Storm" generation (see the Ang Lee movie). A PIG is a PIG is a PIG and it's overdue we start calling them for it (then move to gut their suck-the-marrow-from-the-earth entitlements...). I have paid in over 100K (and my employers another 100K) to support these filthy pigs in their (useless and unproductive) "golden years" -- years I will NEVER see, having saved $600K, paid off my house in full (age 49), purchased two rental/income homes, etc. -- only to now have to work until I'm 85 just to keep pace with the value destruction The Bernanke's money printing has (and must) create to sustain these PIGS! End the Fed and bring back Hitler's ovens. Talk about PARASITES! (I'm only half joking here; Can you tell I'm fed up with these people and the almost entirely dissipated planet they've left in their flatulent exhaust trail?)
I've often wondered how people can be so blind. The boomers believed that their entitlements would always be viable but they never thought to check the math. I've argued till i'm blue in the face with many of them way before the collapse that this system would not support the boomers when they started to retire and I've always ended up with the same answer, the government will take care of it. Almost all of the people I work with don't have a clue what's about to happen. Most don't think that the system can collapse, mind you that a slow decline might be just as likely. In the end the effect will be the same, a much lower standard of living for Americans. Pensions and entitlements that were promised but will never live up to what they thought they were going to get. The next 20 years will be vastly different that the previous 20.
Wanklord, there is something odious about your posts. Uhmmm...exact same words posted over and over again in the same context and word flow. Indeed, as someone else mentioned, you seem to be triggered by keywords.
Regardless, while the wank speaks some truth, he has forked distract the thread tongue.
Must...re-route blame to keep it off those truly to blame.
Must...use bot to re-direct minds to accepting economic condition as their own creation and not the corrupt fiat system which allowed it to exist in the first place.
Must...use soft propaganda to mislead those using emotional keywords so they do not continue to grow in opposition.
Gentle psi-
ops
cyclops indeed
Wanker, you miss the perverse incentive/disincentive tax system, inflation system that we boomers were steeped in. Plus most of us had government issued "educations" to boot.
Fortunately, I did not do well in grammer and high school, so i still know how to think critically.
I blame the government for most of the problems in the world.
They are a transitory gang of murderers, thieves and thugs whose one goal is to perpetuate the status quo.
Hey fuckwank.
When you say some saved money,you mean gold right.
Because if you had saved paper money you were a loser,to inflation.
And when you say some got educated,you mean brainwashed like you.
Fuck off meathead.
the Do Nothing president, says golfing bitchez......screw everything else
If the politicians would simply do nothing most of our problems would be solved.
Dear ZH Fans,
My office chair smells like butt.
Any cleaning suggestions?
Regards,
VP Joe Biden
febreeze and baking soda
stop m-bating in chair without chonies on
wash derriere prior to sitting
yes, these recommendations are directly due to experience
Do you sit on a server rack dude.
99% or 100%, Im getting confused, oops, cross purposes.
The curse of the compliant.
Yeah, bitchez!
Hell as soon as WW3 starts we can then start setting our sights on another record to break.
Less than 100% is cause for celebration as far as I'm concerned.
Yeah once you cross the 100% mark you're pretty much screwed... and it's already above the 100% mark.
And even more if the deficits go to 0$ which at some point it will have to... that means the GDP will crater at least of the amount of the deficit and then some.
Cut deficit right now to 0? GDP crashes 12% easy.
That means your GDP is now standing at 13.3 trillion and falling... with a debt of 15.11 trillion and going up. That's 113% of debt/GDP.
US MUNIBONDS COLLAPSING YES US IS NOT AA is B
Flag as junk... the US not your comment.
Dagong, the Chinese rating agency, says that US GDP is much smaller than $15 trillion.
"If we exclude the factor of virtual economy, the U.S. actual GDP is about 5 trillion U.S. dollars in 2009, per capita GDP about $ 15,000. Meanwhile, the total domestic consumption was 10.0 trillion U.S. dollars and government expenditure was 4.5 trillion U.S. dollars."
Is the $15 trillion figure for US GDP accurate?
Easy question to answer in one word.
No.
Did Timmy compute that number using his Turbo Tax software?
http://www.dagongcredit.com/dagongweb/uf/USARatingReport.pdf
"It is predicted that the average real GDP per year of the United States will not reach 6 trillion U.S. dollar and per capita GDP will be less than 20,000 in the coming 3-5 years."
Any consideration of government consumption as "growth" is asinine on its face. Not to mention that the production that this demand spurs is accounted for elsewhere.
Fedgov produces nothing but disaster. I guess one could quantify it, but other than padding the books, I don't know why anyone would bother.
Overnight
That's a lot of two-dollar toasters!
Seriously, all this means is that we're $55 billion dollars richer than we were this time yesterday.
See? Perspective, bitchez!
The US is already over 100% Debt to GDP. The real GDP is much lower than stated. For one, the GDP includes gov't expenditures which consumes about a third of the GDP. Since Gov't expensives are a liability, not a revenue source, it should be subtracted. Tax revenues are down more than 20% since the 2008 collapse, yet GDP was not adjusted to reflect this contraction. The Real Debt to GDP is in the neighborhood of 150%. We are nothing more than Greek, hiding our real economic statistcs with smoke and mirrors.
usdebtclock.org has it over 100 percent. wheres the disparity?
USdebtclock.org also has US unfunded liabilities to GDP ratio of 775% now. And projected to be 811% of GDP in 2015 at current rates of growth.
We make our own "reality" now, brutha. Didn't you get the memo?
Need we also add the "off-budget" costs for wars? Nah, they are off the budget for a reason.
Companies/Banks/ Countries keep stuffing Ben Bernanke and the federal Reserve with your debt while you can. Pull out any assets, falsify statements and dump all the debt on Bernanke because he's sucking all of it up!!
Ben Bernanke and the federal reserve has given a green light to fraud. Bernanke and the fed will just suck up all your bad debt. When it comes to paying back the swaps give the Fed 0. Bernanke and the fed will hide it on their mystery balance sheets.
As per Kyle Bass, a country's debt becomes unsustainable when Debt/ Gov't revenue > 5x. Congrats, we are there
Why, it just requires more leverage, that's all. Just ask the geniuses in charge.
Ya. Hell if Deutsche bank can do 62X leverage with 2.15 trillion in assets, the US can sure do at least 30-40X in leverage with 15 trillion in assets.
Moonbeam has the answer....raise taxes.
Check out the 9.3 % income tax rate for incomes over $ 47k in Cali
It's an all out "business-be-gone" campaign !
http://www.bloomberg.com/news/2011-12-01/brown-will-ask-california-voters-to-back-increased-taxes-on-income-sales.html
wait for it, Italy finds money..half a billion
How's your Hope & Change now ?
sucks.
Its all just numbers in a computer people. move along...move along
$17T+ by the end of Obama's term at this rate. And that assumes debt crisis and "required" intervention don't go parabolic.
From a speech in Congress in The Bankruptcy of the United States Congressional Record, March 17, 1993, Vol. 33, page H-1303, Speaker Representative James Trafficant Jr. (Ohio) addressing the House states:
“…It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law 89-719; declared by President Roosevelt, being bankrupt and insolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 – Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Governmental Offices, Officers, and Departments and is further evidence that the United States Federal Government exists today in name only.
The receivers of the United States Bankruptcy are the International Bankers, via the United Nations, the World Bank and the International Monetary Fund. All United States Offices, Officials, and Departments are now operating within a de facto status in name only under Emergency War Powers. With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy have adopted a new form of government for the United States. This new form of government is known as a Democracy, being an established Socialist/Communist order under a new governor for America. This act was instituted and established by transferring and/or placing the Office of the Secretary of Treasury to that of the Governor of the International Monetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part: “The U.S. Secretary of Treasury receives no compensation for representing the United States…
Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens of mortgages until the Federal Reserve Act (1913) “Hypothecated” all property within the Federal United States to the Board of Governors of the Federal Reserve, in which the Trustees (stockholders) held legal title. The U.S. Citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the Federal United States hypothecated all of the present and future properties, assets, and labor of their “subjects,” the 14th Amendment U.S. Citizen to the Federal Reserve System. In return, the Federal Reserve System agreed to extend the federal United States Corporation all of the credit “money substitute” it needed.
Like any debtor, the Federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the Federal United States didn’t have any assets, they assigned the private property of their “economic slaves,” the U.S. Citizens, as collateral against the federal debt. They also pledged the unincorporated federal territories, national parks, forests, birth certificates, and nonprofit organizations as collateral against the federal debt. All has already been transferred as payment to the international bankers.
Unwittingly, America has returned to its pre-American Revolution feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, We the People are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. We the People have exchanged one master for another.”
There was a reason his ass was thrown in jail and the corruption/bribe part was not it.
Absolutely! That's The Shadow Elite's Method of Operation. Remember Elliot Spitzer was HOT on their tails. And the D.C. Madame. Well, you know how that story went. BTW, forgot to post the link. Here you go plus and bonus one too.
http://dev.republicoftheunitedstates.org/what-is-the-republic/history/
http://www.serendipity.li/jsmill/us_corporation.htm
http://www.barefootsworld.net/admiralty.html
Yes, we have had a one world government and one world Army since the creation of the Federal Reserve and Bretton Woods. The U.N. has only made this stronger. Most sheeple are comfortably numb, now let's see what happens when the supply disruptions start happening. Capital controls are already occuring everywhere. It shouldn't be too long now because now the bankers need the BRICS ro play along.
Lets all chip in and buy the krugmeister a cruise of the Alaskan Alutean Islands, ensuring he's not manning the SETI station at Pearl....
obama, through his plutocratic puppet masters, is continuing his plundering, raping, and pillaging of america to make the world safe for banksters...
and the indonesian citizen cares not a whit.
www.obamacrimes.com
Please learn about the Duke Brothers viewpoint on who runs their company. Check out puppet governments and the definitions.
Nah!, The Duke Bros. got wiped out back in 1983 by Winthorpe and Valentine back in 1983. They even made a documentary of the event: http://www.imdb.com/title/tt0086465/
I just want to know one thing. If everyone is turning to the Fed and running from the EUR so they can swap out their trash to our paper trash for US DOLLARS..why is the dollar not rocketing and why on Earth would the EUR rise into the confirmation that banks are about to fail and they need the magic USD to keep them on life support.
Dollar up markets down. Yet they are up?
Tyler called it yesterday..no volume = false moves. Dow 10k by Jan and then QE3 "Bernanke loves Pres. O" will be the next goose for the markets by then BAC will be nationalized.
M x V
It's like sand in a dump truck. A very large dumptruck. Use the hydraulics and the sand sloshes around. You can dump it and go get more. The difference between sand and dollars though is that while there are trillions of grains of sand, there is an infinite amount of dollars.
The creation of more dollars lessens each one's value, due to an increase in supply. This creates price stabolization. This is your reigning economic theory about how to create wealth in aggregate.
99.5% is an A+ in grade school with a happy face sticker. HELL YAH!
Front Street Capital hedge fund manager Frank Mersch says French Banks are mostly involved in the housing bubble in Toronto:
He says, look around, see what's there and mentions BNP Paribas. I would also say that RBC/Dexia is in there as well. He discusses the disconnect between commodities and equity prices.
Part 1
http://watch.bnn.ca/#clip577952
Part 2
http://watch.bnn.ca/#clip577953
Part 3
http://watch.bnn.ca/#clip577954
http://www.gettingtechnical.com/01_home/market_commentary/can_en.html
TPTB have done us proud
20T
15.2T
And your vote is?
Debt has to expand, it's built in or BOOOM! let's all who want a little more time to prepare (phys).
I'm rooting for 20T
And the other notable thing is that the debt limit still is $15.194 trillion.
No biggie, Obama raises it and congress has to vote 2/3 to block him, which won't happen.
The final ``debt ceiling`` limit is 16.694 trillion which won't be reached until October/November/December 2012.
Now of course they could start a big war and it could be reached early next year...
D is for Deleverage.
P is for pushing on a string.
DP is for double penetration.
While Bernanke and the Fed are accepting trash swaps for dollars, take those dollars and convert them to worthwhile assets/currencies while you can and you have the fools at the fed doing this.
At some point soon US dollars, Bernanke and fed will be laughed at.
How much of that money was spent to keep the price of gold and silver down?
It was only a few short months ago that the number was 14.5 and now it`s just 15.1.
What`s the big deal.... we`re only talking about a move of 0.6. So what., no one else seems worried.. (sarc)
Well we're a movin' on up,
to our worst side.
to a Debt GDP ratio
In the sky high high.
Mo-vin' on up
(Mo-vin on up.)
thought we'd just glide,
finally got a piece of 3rd world life.
crooks don't fry and I'm bitchin,
thieves don't burn on the grill.
Spent a whole lotta time just tryin
but I can't find work and I'm ill.
http://en.wikipedia.org/wiki/List_of_countries_by_external_debt
Persian empire at its time, strongest, richest….falls.
Roman Empire at its time, strongest, richest…falls.
Portuguese Empireat its time, strongest, richest….falls.
Spanish Empire at its time, strongest, richest….falls.
Dutch Empire at its time, strongest, richest….falls.
British Empire at its time, strongest, richest….falls.
French Empire at its time, strongest, richest….falls.
German Empire at its time, strongest, richest….falls.
Italian Colonial Empire at its time, strongest, richest….falls.
Russian Empire at its time, strongest, richest….falls.
Soviet Union at its time, strongest, richest….falls.
American empire at its time, strongest, richest….who said it gets a get-out of jail pass?
But but but! America is chosen by God! Manifest destiny and all that! America is the exception! Stop hating on America you dirty liberal!
/sarc
That's huge... Thank god I live in Europe.... /sarc off
Its all Bush's fault
/sarc
ha ha, burning down the house
by jove, I believe that's young Barry Soetoro in that vid
http://www.youtube.com/watch?v=xNnAvTTaJjM
What are the odds that the US Congress will extend unemployment benefits again?
It's a no win situation at this point. Extend it, and keep puking debt or end it kill GDP, along with the lives of 14 million americans that rely on it right now as their only source of income. I just hope they're using it to stock up on food and ammo.
I'll vote to extend it only if they go on it
Where is that $55B going? Oh yeah, MIC and other cronies...
The solutions to most of the problems can be taken care of by banning the Federal Reserve Banking System and going back to the Constitution.
The country was not perfect before 1913, but just as soon as the bankers took over the power to create our money, the country was on it’s way to one catastrophe after another. We went from a system based on sound money to a system based on debt. So now without the government creating more debt, there is no more money to put into the economy.
Many believe that we just had to get off the gold/silver standards to be able to grow the economy to compensate for the big business and the population explosion in the years that followed, but in reality we did not ever have to go off the gold/silver coin stipulations that are laid out within the constitution.
The reasons why are…
1) According to the constitution, congress had the power to regulate the values of the gold/silver coins that were the ‘real’ currency/money and not the ‘fiat’ type we are using now, which the fed regulates it’s value by printing more or less of it.
That means that we wouldn’t have inflation/devaluation of the money like we have had since 1913 when the federal reserve was created. A nice suit, jacket, and shoes would still cost just 1 ‘one ounce’ gold coin instead of $1000-$1500 of fiat debt notes like it does now. It doesn’t cost any more to make a suit today, than it did in 1910, (actually it is probably cheaper with all the mechanical innovations that have come about since that time) the only reason you can say that it does cost more now is because we are using ‘fiat’ currency that has been devalued by the FRS.
2) The main reason why congress wanted to get off the gold/silver standard was because they didn’t want to have to directly try to raise taxes on the people to do all the things they (and the elitists masters) wanted to do. Like growing the government to it’s current monstrous size, raising their salaries and benefits packages, taking care of their corporate buddies, wasting money on worthless ideas, lining their own pockets , etc.. They knew they couldn’t do any of those things if they had to directly raise taxes on the American people, they knew their ‘free ride’ wouldn’t last long if they tried to do such things, because the people would have nothing to do with it. They would have been tossed out of office or strung up in the center of town.
3) They were sold on the idea (by the banksters) that with a ‘fiat’ currency, they could have as much money as they wanted, to do whatever they wanted, whenever they wanted, because the people would be none the wiser and they would not get tossed out or strung up in the center of town. The Fed would just print whatever they wanted and then get paid back by the American people over a long period of time. So now our children’s great grandchildren are left with the bills of the politicians of today. Now they have a bottomless checkbook and a limitless credit card, just as long as they keep voting to raise their credit limit, like they are doing right now! They could not have done this if we were still limited by a gold/silver standard.
4) The bankers would not be in control if the congress would have not given up it’s constitutional authority to coin money and regulate the value of it. Now we are at the mercy of the federal reserve bankers who print our money out of thin air, then ‘loan it’ to us with interest attached.
What kind of morons does it take to enter into an agreement like that?
The only money that is ever created now is the money that is borrowed into existence (with interest tacked on it) by the congress.
Well where in the hell do the interest payments come from, when the only money that was created was the amount that was borrowed in the first place?
The FRS has to create even more money for the government to pay it’s interest payments on the original loan amounts, but it too (this new money), is loaned to congress with interest attached to it.
It’s like the never-ending story of debt. That is why the country will NEVER be out of debt, unless it does default on the loan and write off the debt, along with the interest payments.
The bankers swindled the president and congress in 1913, and it has been raping the country ever since then. You can bet your ass they won’t be stopping either until the majority of the American people stand up and quit playing their games of rape, pillage, and plunder America and we kick their thieving asses out of here.
Jefferson was right, the banks are more destructive than a standing army, against our country.
END THE FED and many of the countries problems will fix themselves.
Most of the rest of the TP (stupid, selfish Baby Boomer crapola -- "keep your govt hands off my Medicare") I can do without -- but END THE FED -- has proven the single greatest idea of all time! LET FAILURE FAIL! RON PAUL (3rd party ticket) in 2012!
Wake me up when we hit a Quadrillion
Boy, when will we learn our lesson. There is a quote by Archemedies from 250BC or so "Let me stand on a Wall or Street with enough leverage and I will move the world into bankruptsy" or something like that. Pretty telling that we have not come far at all.
When I get home and tell my young kids how much they now owe, they are really going to be upset!!
TEOTWAWKI is fast approaching. Buy your gold, guns, ammo and food while the fiat tp is still worth something!
Soon, I monthly water bill would be 15 trillion, why is this a problem?
And WHERE do we get the money to bailout Europe?
US Yield Curve Rises, Italy/France/Belgium Yields Fall – Simple Swap Cost Lowering or Perceived Bigger Bailout?http://confoundedinterest.wordpress.com
FYI -
History of all ECB open market operations
http://www.ecb.europa.eu/mopo/implement/omo/html/top_history.en.html
99.5%, isn't that, like an A+ ?
Whoo hoo
One of these days you Americans are going to hit the ceiling. I hit the ceiling once but it was an accident.
Dude, we don't even issue budgets.
Santa's bringing us a 1:1 correlation for x-mas! Good times!
I see where YOUR President came out today and told his audience that he needed another 4 years to finish the job. Take a minute to pause and consider such a situation.
Lamans terms. The USA loaned out 50 trillion dollars of money for buildings made of wood, stone and glass and spread the virus of Mortgage funds over the globe. Now 10 trillion of it is underwater, and another 20 tirllion is in foreclosure or severly past due and they need some cash on the quick, because for some reason Barry's unemployment projection of 6 percent hasn't happened, even though wages haven't increased for the last 30 years. Have a happy fucking friday.
Is it OK to just round up yet? Or is saying 100% still taboo?
Thanks Barak. Couldn't have done it without 'cha :)
Buck Farack! Time to end this Regime!
PS-How's that Super-Committee workin' for ya?
Debt limit! LOLOLOL How funny!!!