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$21,714 For Every Man, Woman And Child In The World – This Global Debt Bomb Is Ready To Explode

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Debt Bomb Globe - Public DomainAccording to the International Monetary Fund, global debt has grown to a staggering grand total of 152 trillion dollars.  Other estimates put that figure closer to 200 trillion dollars, but for the purposes of this article let’s use the more conservative number.  If you take 152 trillion dollars and divide it by the seven billion people living on the planet, you get $21,714, which would be the share of that debt for every man, woman and child in the world if it was divided up equally.

So if you have a family of four, your family’s share of the global debt load would be $86,856.

Very few families could write a check for that amount today, and we also must remember that we live in some of the wealthiest areas on the globe.  Considering the fact that more than 3 billion people around the world live on two dollars a day or less, the truth is that about half the planet would not be capable of contributing toward the repayment of our 152 trillion dollar debt at all.  So they should probably be excluded from these calculations entirely, and that would mean that your family’s share of the debt would ultimately be far, far higher.

Of course global debt repayment will never actually be apportioned by family.  The reason why I am sharing this example is to show you that it is literally impossible for all of this debt to ever be repaid.

We are living during the greatest debt bubble in the history of the world, and our financial engineers have got to keep figuring out ways to keep it growing much faster than global GDP because if it ever stops growing it will burst and destroy the entire global financial system.

Bill Gross, one of the most highly respected financial minds on the entire planet, recently observed that “our highly levered financial system is like a truckload of nitro glycerin on a bumpy road”.

And he is precisely correct.  Everything might seem fine for a while, but one day we are going to hit the wrong bump at the wrong time and the whole thing is going to go KA-BOOM.

The financial crisis of 2008 represented an opportunity to learn from our mistakes, but instead we just papered over our errors and cranked up the global debt creation machine to levels never seen before.  Here is more from Bill Gross

My lesson continued but the crux of it was that in 2017, the global economy has created more credit relative to GDP than that at the beginning of 2008’s disaster. In the U.S., credit of $65 trillion is roughly 350% of annual GDP and the ratio is rising. In China, the ratio has more than doubled in the past decade to nearly 300%. Since 2007, China has added $24 trillion worth of debt to its collective balance sheet. Over the same period, the U.S. and Europe only added $12 trillion each. Capitalism, with its adopted fractional reserve banking system, depends on credit expansion and the printing of additional reserves by central banks, which in turn are re-lent by private banks to create pizza stores, cell phones and a myriad of other products and business enterprises. But the credit creation has limits and the cost of credit (interest rates) must be carefully monitored so that borrowers (think subprime) can pay back the monthly servicing costs. If rates are too high (and credit as a % of GDP too high as well), then potential Lehman black swans can occur. On the other hand, if rates are too low (and credit as a % of GDP declines), then the system breaks down, as savers, pension funds and insurance companies become unable to earn a rate of return high enough to match and service their liabilities.

There is always a price to be paid for going into debt.  It mystifies me that so many Americans seem to not understand this very basic principle.

On an individual level, you could live like a Trump (at least for a while) by getting a whole bunch of credit cards and maxing all of them out.

But eventually a day of reckoning would come.

The same thing happens on a national level.  In recent years we have seen examples in Greece, Cyprus, Zimbabwe, Venezuela and various other European nations.

Here in the United States, more than 9 trillion dollars was added to the national debt during the Obama years.  If we had not taken more than 9 trillion dollars of consumption and brought it into the present, we would most assuredly be in the midst of an epic economic depression right now.

Instead of taking our pain in the short-term, we have sold future generations of Americans as debt slaves, and if they get the chance someday they will look back and curse us for what we have done to them.

Many believe that Donald Trump can make short-term economic conditions even better than Obama did, but how in the world is he going to do that?

Is he going to borrow another 9 trillion dollars?

A big test is coming up.  A while back, Barack Obama and the Republican Congress colluded to suspend the debt ceiling until March 15th, 2017, and this week we are going to hit that deadline.

The U.S. Treasury will be able to implement “emergency measures” for a while, but if the debt ceiling is not raised the U.S. government will not be able to borrow more money and will run out of cash very quickly.  The following comes from David Stockman

The Treasury will likely be out of cash shortly after Memorial Day. That is, the White House will be in the mother of all debt ceiling battles before the Donald and his team even see it coming.

With just $66 billion on hand it is now going to run out of cash before even the bloody battle over Obamacare Lite now underway in the House has been completed. That means that there will not be even a glimmer of hope for the vaunted Trump tax cut stimulus and economic rebound on the horizon.

Trump is going to find it quite challenging to find the votes to raise the debt ceiling.  After everything that has happened, very few Democrats are willing to help Trump with anything, and many Republicans are absolutely against raising the debt ceiling without major spending cut concessions.

So we shall see what happens.

If the debt ceiling is not raised, it will almost certainly mean that a major political crisis and a severe economic downturn are imminent.

But if the debt ceiling is raised, it will mean that Donald Trump and the Republicans in Congress are willingly complicit in the destruction of this country’s long-term economic future.

When you go into debt there are consequences.

And when the greatest debt bubble in human history finally bursts, the consequences will be exceedingly severe.

The best that our leaders can do for now is to keep the bubble alive for as long as possible, because what comes after the bubble is gone will be absolutely unthinkable.

  • Bi

    It will go forever the way it is now

    • geoffandmarie418@aol.com

      It is impossible that this economic course we are on can go on forever.

      • socalbeachdude

        Indeed, and the bells have been ringing loud for the past 40 years and nobody has paid any attention and now their at the point that the bells with shatter with fragments flying everywhere with huge damage to many folks, just as many of us have warned about repeatedly over the past 40 years. And some clueless and ignorant idiots and imbeciles will say “what happened?” when it was totally obvious what would happen all along.

      • jakartaman

        The crash is inevitable and certain.
        The questions are: when, what will be the trigger, how long will it last, will there be an all out world war, will there be martial law with violence. How does civilization roll out from under this, who and what will take control of the world and its economy???????????????

    • William Lutz

      No it can’t. You can only spend so much credit that you will eventually end up deep in a huge debt hole you can’t escape out of. I dare someone to endlessly max out/overdraft countless credit cards and see how they feel once they know that they are strangled in debt and will face legal repercussions because of it. That’s a really hopeless situation.

      • Ricardo

        Trying to get the head around how finance works can be very frustrating at times. What seems simple never seems simple. We are told the whole world is in debt….but to who. Example: the USA has debt, China has debt, New Zealand has debt. Every country has debt. But (this is just an example) lets say the USA owes China 2 trillion dollars but China owes the USA 1 trillion dollars then the US debt is not 2 trillion its only 1 trillion and China doesn’t have a debt of 1 trillion, it has a credit of 1 trillion which the US owes them.
        Of course in the world of finance we can just declare bankruptcy and after a period of time just start over again. So there is no more debt. If individuals and companies can do that why can’t countries. I am always looking for financial sites that can explain money in an easy to understand way but the Bible has the best answer of anybody. The debtor becomes the tail and the creditor is the head and that tells you why we should never get into debt because in debt you become the slave.

    • socalbeachdude

      And just who is going to fund that nonsensical BS?

  • YH

    I won’t blame the President if he is forced to raise the national debt limit. True, he will be exacerbating the debt crisis, but he has no choice at this point. The options are – raise the debt limit versus crashing the entire banking system and economy in one swoop of the felt tip pen? That is a no brainer. He will raise the debt limit. At this point, plunging the nation and perhaps the world into a hyperinflationary depression could potentially kill many unprepared people. No President is going down that path on his watch if it can be avoided.
    We are long past the point where we can take philosophical or moral opposition or half measures to the approaching financial meltdown tsunami. It is coming as surely as the sun will rise. What we need to do is to prepare on an individual level to try to mitigate the effect as best as we can. Get out of debt now! If the mini-meltdown of 2008 taught us anything, it was to get out of debt and have a Plan B ready to go when the financial system collapses.

    • William Lutz

      I personally don’t want the debt ceiling to be extended. I’m sick of the government recklessly spending non existent money under pretenses of securing essential services and investments in the future. Guess what? I don’t give a sheet if the untackled debt threshold leads to such consequences. If the financial bubble explodes, then so be it. However, I don’t think it would be that major of a catastrophe.

      I want people to get shaken so that they can finally wake up. As long as the government keeps wasting money mindlessly, no one is going to get suspicion and people will unexpectedly get caught in the midst of total chaos. The system should collapse steadily and gradually very quick.

      • YH

        “If the financial bubble explodes, then so be it.”
        It’s not a matter of if the financial bubble explodes, but when. At this point it is unavoidable in my humble opinion. I agree in principle to what you are saying William. if there were a way to shake up people and the system from their stupor I would certainly advocate that option. Most people don’t even remember the events of 2008 much less have a plan for the future. What lies ahead is inconceivable to most people.
        It is grossly unfair to steal from future generations to pay for todays immoral excessive spending. But this is where human nature comes into play, and human nature explains everything that is taking place. Greed, envy, gluttony, etc. etc. etc. The spending will continue until it can no longer continue.

      • A guy from Ukraine

        My friend, unless you living on a secluded island completely independant of the outer world, the consequences of the debt bomb explosion will be catasrophic for all debt-burdened countries with the US being hit the most. Suspension of Constitution, massive civil unrest, nationwide collapse of distribution system and Martial Law is not a whim of my imaginatiuon but will be a matter of the day. Sometimes, we must be afraid of our wishes.

    • socalbeachdude

      Drastically cutting federal government spending is the ONLY ANSWER to getting the out of control federal debt issue under control as it pushes towards $20 trillion.

      • Spatial Memory

        ROFL

        • socalbeachdude

          Your ignorance and stupidity are absolutely and totally mind boggling. Sad and pitiful.

          • Spatial Memory

            A quick glance at the Levin Coburn Report by the Senate Investigation Subcommittee or an education in banking and finance credit based monetary systems and you may instantly recognize how absurdly misinformed you are and why markets have clearly rejected your ludicrous guesswork and predictions for thousands of DJIA points already. Sorry for your losses- and to any that followed.

          • socalbeachdude

            You are the one so totally misinformed and the DJIA is headed straight into its biggest losses in the history of markets.

          • Spatial Memory

            Your ridiculous homeschooled hunches and notions of austerity measures and fractional reserve banking are only surpassed by your off the charts atrocious stock market predictions. ROFL

          • HE WILL NOT DIVIDE US

            At least he still upvotes himself. That has to count for something.

          • socalbeachdude
          • CASTIEL

            Look at the mirror first before judging others!!!! Your are the most idiot present in this blog……..

          • socalbeachdude

            Hardly, but that sure describes YOU.

          • CASTIEL

            Again the same answer?????Describe me like what???? A person that can’t stand idiots???? C’mon m#ron…. even Snot is more intellegent than you…..

        • BelowZero88

          Just use reverse psychology and do the exact opposite of what socalbeachdude says then a person should be on easy street.

          • Spatial Memory

            Seems too deranged – unhinged for tradable data on micro or microeconomics. For sure looking back had he put his efforts and allocated resources on “the exact opposite” looks near flawless and he’d CERTAINLY have benefited and likely broken the cycle and doomsday theme while capital markets and asset classes confirm otherwise. 🙂

      • David

        hahahaha,,,, that’s like asking a heroin addict to take only 1/2 the dose of his daily injections! lol.

        Government has been so addicted to spending recklessly for so long Government would go into shock if asked to cut back as you & everyone else knows our Politicians in charge of handling Federal funds always skim off the top. always have, always will!

    • David

      so your saying Trump will be no different and he will kick the can down the road as so many president’s before him have done.

      • YH

        David, I’m saying Trump will be under unimaginable pressure to raise the debt limit. Will he? I think he will. Not because he wants to, but because he knows what the consequences will be if he doesn’t.
        History will not look kindly upon Trump if he presides over the single greatest economic collapse in human history. Can you imagine the chaos and calamity that would ensue? We’re not talking about bank holidays, we’re talking about banks going out of business and closing their doors. I’m preaching to the choir sorry.
        Trying to explain to a nation why he refuses to raise the debt limit when the average American still thinks times are good and we live in the land of plenty. This is what Trump would be facing. He would be in a no-win-scenario. I personally would be most impressed if he chose not to raise the debt limit. I for one would cheer loudly.

        • aldownunder

          I don’t think Trump cares what anyone thinks of him

    • A guy from Ukraine

      you are right in that there is no other way out there but to keep that debt piling up untill it all comes crumbling down on us one day. By announcing his 1 TRLN Stimulus plan to rebuild infrastructure nation-wideTrump has subscribed to the ongoing debt paradigma but as Michael pointed out in his article the opposition to the Trump presidency while trying to subvert Trump into obedience may keep the debt ceiling in place long enough to cause irreversable damage to the system.
      The war the Deep State is waging against Trump is breaking out to see even for the most dumbed down. Stakes are getting higher and higher. Do you think the Deep State will let a good chance to have Trump subdued go waste? It’s not all for nothing that Dave Hodges of Common Sense Show is reporting a considerable uptick of FEMA activities accross the nation lately.

    • crocos

      my dear friends…if a pacient has a cancer disease not treated and you prolong his sickness for indefinite time from now, the pacient will die for sure…but if you try to extirpate the tumor immediately you have a chance to save him…forget the fear of pain…don’t be afraid of crisis is better now than when the patient is already dead because you cannot save him…and a question: who is more greedy corporations or us ????? we blame government or corporations for this situation but we are greedy like they are….so dont be afraid because i dont see anyone on the streets when this debt increase all the time,why people dont protest???…enjoy your life style design as you choose, because you like the debt also .

  • Gasho

    I think it will just go on. The sealing will get higher and higher and people will accept the new poverty they are in. People will forget that this matters and will accept the reality. People will learn how to live without much and will become the ultimate slaves to the richt. But nobody will do anything about it. There will be still too much celebrities on TV and sports so people will be “too busy” with this. Meanwhile the gap between the rich and poor will get so big that the poor will live in a totally different world than the rich. Nothing changes under the sun. Then the Antichrist will come will “all” the “answers” and people will fall for it in hope of a better life. And it would seems that it will be better because the antichrist will be very convincing. True christian will get mostly murdered. After this our Lord will come and will “ask for the check” and it will be done. Sorry for the grim post. But I don’t see it like that at this moment. God bless you all.

    • socalbeachdude

      It is “CEILING” not “sealing” but yes.

    • GSOB

      Antichrist already came and went. From that point on in your comment, was all doctrinal error. Dispensational theology has wrecked havoc in the visible church, left many with no hope, no engagement – virtually ‘salt less’, waiting to be trampled on by unregenerate folks.
      True Christians are easily deceived because Satan has joined the visible church with to toss to and froe with every wind of doctrine taught by man. Dispensational eschatology disarms faith hope and love, a theology that came upon the visible church in the mid 19th century. Hence, the command in test and prove all things.
      Most of the book of the Revelation of Jesus Christ has already been fulfilled, I hope you understand. Ethic Israel will never again be the Kingdom of God. All men are on the same playing field. God shows no favorites.
      Dispensational theology is mainstream in todays Christendome, an as such it is,
      it has since been a major contributor to the economic collapse already in progress.
      You see, when there is no hope, then the people look to Government for the hoe and peace and stability, which allows the system to grow to such a nanny state.
      Christians have lost

    • James Staten

      You would be wise, not to pay to much attention to gsob. He has a very hard time understanding “black ink on white paper” when it comes to the Bible.

      • GSOB

        Anti up, prove me wrong. And, brush up on how to use commas.
        Thank You

  • Bill

    As evil as the debt, are it’s creators. Can they be defeated? That depends on the will of the sheeple as they battle those who wear sheep’s wool.

    • socalbeachdude

      The total outstanding US debt is now more than $64 trillion and only about $20 trillion of that is US government debt with almost $6 trillion of that being debt that the US government owes to itself and its various agencies with the largest holders being the Medicare and Social Security Trust Funds. All of the US government debt has been run up due to the fact that taxes are totally insufficient relative to US government federal spending which is now more than $4 trillion a year while tax revenues are only around $3 trillion a year.

  • socalbeachdude

    FBI – New Evidence From Anthony Weiner Will See Clintons ‘Locked Up For Life’

    http://yournewswire.com/fbi-anthony-weiner-clinton-prison/

  • socalbeachdude
  • Spatial Memory

    Yet another plethora of ludicrous misconceptions. My deepest sympathies to any that took the comical carnival barkers as anything but and missed out on generational wealth accumulation opportunities during the ECONOMIC EXPANSION and brilliant work of global central bankers and avant garde financial engineering.

    • socalbeachdude

      How did you ever become so totally stupid and ignorant?

      Is it due to what is afflicting so much of Wall Street these days as details by Barron’s?

      Wall Street Millennials Living Fast and Hard

      Many young Wall Streeters are turning to drugs and paying for sex to deal with the demands of their careers, a therapist tells ThinkAdvisor.

      “In an effort to cope with job stress and self-imposed pressure, these Type A’s are working murderous hours while relying on prescription medication and—primarily among the men—street drugs, such as cocaine and crystal meth, to help them focus and reach peak job performance,” the publication writes.

      That’s the word from, Jonathan Alpert, a mental health professional known as “The Wall Street Therapist,” whose clientele includes young traders, analysts, bankers and financial advisors.

      Driven millennials are suffering from stress-related headaches, sleep disorders, sexual performance disorders and other problems, he says.

      To help deal with demanding work, they use legal drugs for ADHD, but also street drugs like cocaine, methamphetamine and marijuana. Dabbling in drug use has become “a little more socially acceptable” as long as it doesn’t hurt performance, Alpert tells ThinkAdvisor.

      http://www.barrons.com/articles/wall-street-millennials-living-fast-and-hard-1489083342

      • Spatial Memory

        Look homeward. Markets have clearly proven you atrociously incorrect.

        • socalbeachdude

          Markets have simply proven themselves to be totally IRRATIONAL.

          • Dean

            It’s probably safe to say the stock markets honeymoon with Trump is over?

      • LIZ THE SHIZ

        sounds like you watched the Wolf of Wall Street

        • Spatial Memory

          The Wolf of Manhasset

  • socalbeachdude
  • socalbeachdude

    The bear market is coming. Are you ready?

    https://www.pmcapital.com/the-bear-market-is-coming/

    • David

      are you kidding? when the controversial SHTF scenario plays out there will be no market until this over priced/ over valued market gets corrected which could take a very long time indeed!

  • socalbeachdude

    GDPNow Q1 forecast plunges to 1.3% with vehicle sales, factory orders reports

    https://mishtalk.com/2017/03/07/gdpnow-1st-quarter-forecast-plunges/

  • socalbeachdude

    Happy Birthday, Bull Market! It May Be Your Last

    But the proverbial bull is also celebrating a milestone of its own: The bull market in U.S. stocks turns eight years old on Thursday, March 9. The current bull market, defined by prices that continue rising without being interrupted by the 20% decline …

    http://fortune.com/2017/03/09/stock-market-bull-market-longest/

    • Spatial Memory

      A 20% decline from present levels would still put DJIA 8,300 points HIGHER than where your crash howls and someone’s imminent collapse articles began. ROFL

      • HE WILL NOT DIVIDE US

        Hi walker

        • Spatial Memory

          Hi pedro

          • HE WILL NOT DIVIDE US

            How you doing these days?

          • Spatial Memory

            I’m well. Thanks. U? 🙂

          • HE WILL NOT DIVIDE US

            Not bad 😉 just waiting for the world to end so this dude can go on vacation.

          • W.F. CALL

            lol

        • W.F. CALL

          lol. Not Walker though.

          • HE WILL NOT DIVIDE US

            It is

        • ALWAYSTOMORROW

          Names are easy to change but writing styles are as identifiable as DNA.

          With his horribly predicted silver and DOW predictions tied to a time frame that he made last year, no wonder he is hiding under a different name.

          • Spatial Memory

            My profiles are open and will prove your lies. Laughed to the banks while your collapse notions ‘backfired’ rotflmao

        • LIZ THE SHIZ

          skin walker?

    • LIZ THE SHIZ

      you like bubbles socalled ? the higher it goes the father it will fall !!!!

    • CASTIEL

      Let other people post their opinion…..i would like to see something different instead of a pathetic idiot trying to boost his ego!!!!

      • socalbeachdude

        Where do you come up with such nonsense?

  • XSANDIEGOCA

    The Debt Limit will be raised. It always has been. It always will be. At some point, the Levee will break. No country has ever printed its way to prosperity. The Gods of the Copybook Headings and the Iron Laws of Mathematics will have their way. Those who hold Gold will survive just fine. The rest of us will line up in Soup Kitchens. What to do about it? Beats me. I am going to go see “Kong” later today.

    • David

      I agree. the soup kitchen lines right now are hidden in social programs like foodstamp benefits, welfare, SSI payments, ect. however there will come a point where the US Government will no longer be able to hide this Trainwreck of an economy and not be able to pay for these programs then that is when we will all take a trip back to the 1930’s and see actual soup lines as far as the eyes can see!

      • XSANDIEGOCA

        I have read several accounts of the Great Depression. The writers were impressed that by and large the country remained relatively calm in the face of what was a Catastrophe. I don’t think that will be the case next time.

        • David

          that’s because so many in society have been absolutely spoiled with easy money & easy credit today as compared to back during the Depression. in those days more people knew how to make ends meet with less.. the Gravy Train is about to hit a brick wall and those that have never in their life ever had to do without the comforts of life with easy money & easy credit will have a major tantrum!

        • socalbeachdude

          The so-called “Great Depression” was not a “catastrophe” at all but just two very short little downward blips in the economy.

          • CASTIEL

            Tell that to the guys who jumped off the buildings…….You are the most ignorant f#ck i ever know……..

          • socalbeachdude

            Once again that describes you perfectly!

          • CASTIEL

            Do you have intelligence for more? Or every comment i post you bark : that describes you???? upvoting yourself and posting stuff you dont understand nothing about…..that describes you like a idiot……

          • BelowZero88

            He’s a retard. He has to be to believe Gold will fall to $450 an ounce or lower.

          • socalbeachdude

            Gold could easily fall to as low as $232 per ounce and is just an extremely volatile little niche fungible commodity who price has been preposterously and ludicrously turned into a bubble by clueless speculators.

          • Spatial Memory

            Your comments are just extremely volatile little niche fungible comedy. Gold besides unique intrinsic properties remains the oldest time tested store of wealth and a bedrock or foundation of worldwide banking and finance and all asset classes and commerce remain a derivative.

          • CASTIEL

            And he says that his comments are 100% true and accurate……….:)

          • Dan Wingert

            Wall Street is controlled by speculators.

          • socalbeachdude

            Obviously to anyone with any intelligence my comments are spot on and 100% true, accurate, and correct.

          • CASTIEL

            Only dumb people like your crap comments……You are 100 % idiot…….

      • socalbeachdude

        The so-called “Great Depression was actually just a VERY MINOR AND SHORT-LIVED BLIP.

        The Great Depression itself was really nothing more than two separate periods of recession the first of which started in August 1929 two months before the stock market crash of 1929 and which lasted only until March 1933. Then there was a recovery which lasted 4 full years with positive growth in GDP until May 1937 when the economy dipped into another very short recession which only lasted until June 1938.

        http://ingrimayne.com/econ/EconomicCatastrophe/GreatDepression.html

      • Dan Wingert

        We already have soup lines at my church.

    • socalbeachdude

      Gold has been falling for weeks and will be plunging towards and to its mean of $456 per ounce and then headed lower.

      • XSANDIEGOCA

        I’ll buy more, much more.

        • socalbeachdude

          Why? You can only write off a maximum of $3500 in capital gains losses per year on your federal income tax returns.

  • Spatial Memory

    Meanwhile back to reality, here on earth, both stocks and bonds are higher with zero economic advantage whatsoever to misinformed collapse followers. Whodathunk!

    • socalbeachdude

      Bonds have been plummeting in price since last July and more stocks are now setting 52 WEEK LOWS than stocks setting 52 week highs. Start paying attention.

      • Spatial Memory

        Interest rates moving off of lows since interest rate record keeping commenced and correspondingly bonds backing off of historic highs is far from pummeling – and incredibly funny in comparison to the absolute pummeling nearly everyone of your predictions are still experiencing.

        Any weakness in TMV 3x inverse treasury 25+ yr term sure seems like a generational buying opportunity IMHO- as I’ve said since 15 levels.

        Watch and learn.

        Pay attention rotflmao

        • socalbeachdude

          What utterly bogus and false nonsense.

          • Spatial Memory

            You certainly are – and proven beyond doubt repeatedly.

          • socalbeachdude

            That would be YOU in spades.

          • Spatial Memory

            My profiles open and plenty of proof otherwise- across multiple markets and multiple asset classes and markets price action clearly confirms EVERY occurrence. 🙂

            Markets have proven you INCREDIBLY inaccurate. Sorry for your loss(es)

          • CASTIEL

            He is just a ignorant trying to prove that he have some intellegence…….

          • socalbeachdude

            That sure would describe you perfectly!

          • Spatial Memory

            Markets and price action confirmed he’s correct. 🙂

  • carl

    I for one feel no obligation to pay my supposed share of the US debt. I only wish that their borrowing would benefit the people of the US and not go to corporate welfare, nation welfare and the like. The entire world is a sham. Most people prefer the illusion of this life to the reality. Nothing is free. Someone always pays the price and it usually is not the ones giving the freebies.

  • Cal

    Part of a speech JFK never gave on 11/22/63…At a time when the national debt is steadily being reduced in terms of its
    burden on our economy, they (Americans) see that debt as the single greatest threat to our security. At a time when we are steadily reducing the number of Federal employees serving every thousand citizens, they fear those supposed hordes of
    civil servants far more than the actual hordes of opposing armies…most Americans in 1963 still thought clearly and saw the danger of a growing national debt and increasing out of control federal bureaucracy. Today meaningful concern non-existent. Debt ceiling raised and the bureaucracy rolls on.

  • David

    “If you take 152 trillion dollars and divide it by the seven billion
    people living on the planet, you get $21,714, which would be the share
    of that debt for every man, woman and child in the world if it was
    divided up equally” funny how this Debt was not created equally by every man, woman & child on this planet but somehow all of us are responsible for this Debt?
    .

    • Jerry C

      Privatize the profits & socialize the losses; centralized banks & fiat currency. Welcome to the biggest ponzi scheme in the history of humanity.

  • DJohn1

    Based on Mr. Trump’s history, I think he will declare the debt void leaving the people that financed the debt bankrupt.
    He will then proceed to organize the government based on what taxes come in rather than going into further debt.
    I suggest a bank holiday of at least a week or two will happen to reorganize the financial system as it applies to banking.
    That means firing a whole bunch of people in the bureaus and possibly dismantling both the IRS and the EPA in the near future.
    It also means going to a far more efficient system of taxation. One that does not require regulations so complex no one can understand them even the bureaus that regulate.
    It means deregulation. It means starting over.
    It means renegotiation of all international financial agreements.
    It means re-organizing the military.
    It means line by line veto of anything coming from the Congress.
    It also means dismantling the current inefficient intelligence agencies currently so powerful they appear to be immune from prosecution.
    It means major changes in the way we do things in government so that we are reorganized along far more efficient lines than happens today.
    I think the Congress and the Courts will go crazy over his proposed changes.

    • aldownunder

      Sounds good in theory
      Unfortunately probably wont happen

  • David

    David Stockman recently compared our economy to a truckload of nitroglycerin on a bumpy road. I think everyone should prepare for what is coming to the best of their abilities.

  • David

    there are literally thousands of people that have always had the best comforts of life and have never ever had to do without. when the SHTF and those that have had to endure being homeless will be fine as they have learned to be able to do without but for those who have always had a golden spoon in their mouths will not handle poverty well at all as they think they are entitled to the very best in life.

  • deptmaggedon

    just to get through 2017-18,treasury will need to borrow at least 3trillion,add another tril (or 2)for trumpcare/tax cut/stimulus trifecta,which will all be funded through borrowing/printing,ie ceiling will have to be raised by at least 5-6T just to get through trump 4 year term,red ink on top of red ink

  • BelowZero88

    It’s all the “JEWS” fault!!!

    • James Staten

      And the day is coming when you will bow the knee before the King of the Jews. https://www.biblegateway.com/passage/?search=Romans+14%3A11&version=KJV

      • BelowZero88

        There is no God.

        • James Staten

          Well, Life’s Only Question: What will you do with that dead Jew who got up and walked out of that Tomb? https://www.biblegateway.com/passage/?search=1+Corinthians+15%3A1-4&version=KJV

          • BelowZero88

            Relax Friend, I’m only screwing around. Everyone likes to blame the Jews for everything that why I posted that comment.

          • James Staten

            You made my day!!!

        • Mark

          snoddy trying to hide suicidal tendencies! Can’t hide nor run from your self made god.

          • BelowZero88

            Go “F” Yourself

          • Mark

            Cant run from the Truth!

          • BelowZero88

            Go “F” yourself

        • LIZ THE SHIZ

          looks like Snodt’s got a new screen name and it shows her IQ

          • BelowZero88

            You live in Germany right? How you enjoying getting gang raped by Muslims?

          • BelowZero88

            ahahahahahah!!! You’re so funny, don’t quit your day job bitch!!!

  • socalbeachdude

    Total debt outstanding in the US is over $64 trillion with only about $20 trillion of that being federal government debt.

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    INTEREST RATES SOAR UPWARDS…

    Treasury yields post highest close since 2009 ahead of Fed meeting

    http://www.marketwatch.com/story/10-year-treasury-yield-sits-just-under-26-ahead-of-fed-meeting-2017-03-13

  • socalbeachdude

    Americans Wealthier Than Ever…

    U.S. household net worth climbed to a record $92.8 trillion in the fourth quarter of 2016, as the end-of-year surge in stocks and a steady climb in home prices added more than $2 trillion of wealth to household balance sheets.

    The biggest contributor to the increase was the stock market’s end-of-year rally, which added $728 billion to household net worth in the fourth quarter, according to the Federal Reserve’s quarterly financial accounts report.

    https://www.wsj.com/articles/u-s-household-net-worth-reaches-record-92-8-trillion-1489078918

  • socalbeachdude

    Trump’s first budget will call for major cuts in the EPA and HUD and a $54bn increase in defense spending when he sends it to Congress this week

    President Donald Trump is set to send Congress a proposed budget this week testing Republicans’ ability to keep long-standing promises to bolster the military, cutting into domestic programs.

    http://www.dailymail.co.uk/news/article-4305986/In-1st-budget-Trump-push-conservative-view-government.html

  • socalbeachdude

    NO TRUMP FEDERAL TAX CUTS…

    MCCONNELL: TAX CUTS WILL HAVE TO WAIT…

    http://thehill.com/blogs/floor-action/senate/323163-mcconnell-tax-reform-unlikely-by-august

  • Pete

    I think it is likely that the financial elite will engineer a controlled implosion of the current monetary system as a way to discharge much of the debt.

    Savers will be hurt but the elite will, as always, do okay for themselves..

  • Just cancel all government debt. And don’t let government ever borrow money again.

  • Kochvilledi

    I’ve been reading that things are going to blow up anytime for years. Should it? Probably. But too many people have cried ‘wolf’/’this is it’ too many times. I’m no longer holding my breath.

  • Knut_the_dead_polar_bear

    The whole system relies on the established fact that most of the debt will never be paid. Just look at USA. And the EU. Everyone knows that the budget deficits are chronic and that no politician will ever cut substantially in the budgets. It is all about getting re-elected and keeping power. The debt will never ever be paid. And the so called “credit agencies” will never downgrade USA. It just won’t happen. They are political tools who downgrade adversaries and keep USA at the top.

  • Martin

    They will rise debt ceiling.
    They always do.
    Maybe another downgrade of US by S&P and others will come meantime.
    Assuming Trump is in office for 8 years total debt will be 40-50 trillions, eg it will double every 8 years or so.
    The end game will take a form of hyperinflationary depression.

  • Thomas D Guastavino

    The way to get out of this debt crisis is to grow the economy out of it and that requires lower taxes and regulations to stimulate economic growth. Therefore, Trump is our only hope.

  • Nancy Laird

    Why does this sound like it’s the U.S.’s bill… Do we not have our own national debt.

  • mtntrek3

    One day, reality will take effect and sadness/sorrow/suffering will reign. Christ is the Way.

  • Tatiana Covington

    Don’t pay it!

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