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Topic: America's new debt ceiling - $19,600,000,000,000 - page 10. (Read 16322 times)

sr. member
Activity: 462
Merit: 250
Its just a number. Everyone knows that they have no intention to pay it back. Even if you add 10 more zeros it will have no impact since its worthless.
0*19600000000000 = 0
0*19600000000000000000 = 0
You can add as many zeros you want and it's still just worth what you are paying back, in other words 0


That is the spirit. There is no way the debt will be paid back. The debt will be inflated away, as many governments do in the past centuries.
hero member
Activity: 555
Merit: 507
Its just a number. Everyone knows that they have no intention to pay it back. Even if you add 10 more zeros it will have no impact since its worthless.
0*19600000000000 = 0
0*19600000000000000000 = 0
You can add as many zeros you want and it's still just worth what you are paying back, in other words 0
legendary
Activity: 3512
Merit: 4557
If this system blows up, i must admit that Bitcoin ore crypto in general is comming just in time to save someone's assets.
sr. member
Activity: 462
Merit: 250
China is selling the treasuries as we speak, and Japan is buying them all up. Ah poor Japan, they are printing so much money that they even buy up garbage from the recycling plants Cheesy

This is insane how this keynesian ponzi scheme is heading and its near to it's end.

The Japanese has to buy the treasuries as it is little brother of America. If it does not follow the orders from the big brother, it will be punished.

The punishment happen whenever Japanese does not follow orders. There are still American troops on Japanese soil.
legendary
Activity: 1358
Merit: 1014
All countries have severe non payable debts:

http://www.usdebtclock.org/

Other countries:

http://www.usdebtclock.org/world-debt-clock.html

The whole world is prone to collapse due an insane amount of never ending fiat cycle where more and more money is created to try to pay the debt which in return creates even more debt. It's madness. Only Bitcoin can return us to the correct pays of sound money.
hero member
Activity: 854
Merit: 1009
JAYCE DESIGNS - http://bit.ly/1tmgIwK
China is selling the treasuries as we speak, and Japan is buying them all up. Ah poor Japan, they are printing so much money that they even buy up garbage from the recycling plants Cheesy

This is insane how this keynesian ponzi scheme is heading and its near to it's end.
legendary
Activity: 1946
Merit: 1007
America's new debt ceiling - $19,600,000,000,000 (thats in the trillions if you were not sure)

Thats $60,000 debt for every man, woman and child in the country.

Ticking timebomb waiting to blow, keeping the gold nicely polished waiting for the day Smiley



The debt ceiling matters little. This figure is constantly used as a tool to mislead others. Considering that the vast majority of this debt is owned by Americans themselves it makes little difference.

Still, a debt is a debt. And some get hits hard than other if it really blows up (US military retirement fund for instance, those people get hit double).

I think it is quite unbeleivable how fast the debt has grown from 1990+. Shouldn't they realize at some point that this is only leading to more debt?

I agree that it is just a matter of time before the current fiat system goes down.
sr. member
Activity: 434
Merit: 250
Loose lips sink sigs!
Brilliant, thank you!

So 33.9% of the debt is owned to foreign entities, which is $6.64 Trillion. This number is significantly more manageable for the government to pay off if everyone comes calling to collect. The US people don't have that authority (unfortunately) because technically they authorized all the spending that leads to the remaining 66%...am I wrong?


sr. member
Activity: 476
Merit: 250
America's new debt ceiling - $19,600,000,000,000 (thats in the trillions if you were not sure)

Thats $60,000 debt for every man, woman and child in the country.

Ticking timebomb waiting to blow, keeping the gold nicely polished waiting for the day Smiley



The debt ceiling matters little. This figure is constantly used as a tool to mislead others. Considering that the vast majority of this debt is owned by Americans themselves it makes little difference.
legendary
Activity: 2590
Merit: 3014
Welt Am Draht
That's only 19 of these



Plus a fleet of trucks to carry the other 600,000,000,000

legendary
Activity: 1246
Merit: 1011
Back-to-back quarters of negative GDP growth define an official "recession".  However, note that in these cases, the recession is deemed to have begun with the first negative quarter.  It's perfectly possible that the US, for example, is already in a recession (we don't yet know Q3 GDP let alone Q4 and Q1) and it will be many months before this uncertainty is resolved.

Q4 barely started. When results of Q3 will be known you can say for sure. But word now you are in recession or not, should not change much. It is just a term that is used.

Regardless of whether Q3 is positive or negative, we will not know whether or not the economy was in recession at the time of these posts.  We will certainly need to know Q4 and may also need to know Q1 before we can be sure.

You are right to notice that "recession" here is simply a function of GDP.  An economy in recession is not necessarily shrinking and an economy which is shrinking is not necessarily in recession.

Indeed, GDP is roughly a measure of current consumable output and not one of overall economic size, health, or strength.  When long-term investments are neglected in favour of immediate luxuries, GDP will increase.  When resources are diverted towards long-term capital investments and away from short-term gratification, GDP will decrease.  Independently of GDP, economic health necessitates that investment and consumption are balanced in accordance with the preferences of the people.
legendary
Activity: 1134
Merit: 1112
If you guys are referring to the market correction as the possible start of a recession, then you probably have another thing coming for you. A market correction was long overdue, guys, it's not going to cause a new recession this early. Wink
legendary
Activity: 3374
Merit: 2198
I stand with Ukraine.
I usually don't really care about the damn debt though it can affect millions of people. I have to say the number has a lot lot lot of zeros in it. So how do they gonna solve this problem?

You can not solve this.Sooner or later this system will collapse. And then they will try the same again.

Yep.  It might take 2 or 3 years to recover from the collapse but then all will be okay again.  Smiley

Something like the collapse happened several times already in the past. The life goes on nevertheless.
legendary
Activity: 1473
Merit: 1086
Can anyone extend this graph out?  At this insane exponential (possibly exponential2) growth

I doubt it'll continue like that, most world governments are making moves to reduce the budget deficit as it is (the UK is supposed to have a balanced budget by 2020) and countries like China & Germany still have vast amounts of money they can lend out. And either way, even if a country goes bankrupt, I doubt it'll cause "global collapse" like most people think.


Luckily they can just rise their debt level every single time. The beauty of modern states.. Roll Eyes
newbie
Activity: 38
Merit: 0
The chart is not good, use logarithmic chart will be more practical. And so will bitcoin's price rise at the same pace due to exponentially rising fiat money supply to support that debt

I believe bitcoin price will rise faster than the rate of US debt level. Maybe 3-10 times. If 0.1% of US debt purchaser buy bitcoin, the bitcoin price will be very high.
hero member
Activity: 770
Merit: 500
I usually don't really care about the damn debt though it can affect millions of people. I have to say the number has a lot lot lot of zeros in it. So how do they gonna solve this problem?

You can not solve this.Sooner or later this system will collapse. And then they will try the same again.
Yeah. That's why I don't really care about the damn debt. just asking myself how in my daydream  Grin
legendary
Activity: 1442
Merit: 1016
I usually don't really care about the damn debt though it can affect millions of people. I have to say the number has a lot lot lot of zeros in it. So how do they gonna solve this problem?

You can not solve this.Sooner or later this system will collapse. And then they will try the same again.
hero member
Activity: 770
Merit: 500
I usually don't really care about the damn debt though it can affect millions of people. I have to say the number has a lot lot lot of zeros in it. So how do they gonna solve this problem?
sr. member
Activity: 322
Merit: 250
ressession ressession a country like mine dependand of all portugal will feel its bigger part yes its true its comming down a bit... let us hang to our belts
legendary
Activity: 2730
Merit: 1288
Recession is when country GDP decrease for 6 months in a roll.
So it can go down for 5 months, then go up a smaller amount for one month and then down for another 5 and on and on and it will not be called a recession even though the economy is tanking. If that's really how "experts" use it then it is a bullshit metric.

Is year quarters, i used wrong words.  if Q2 and Q3 country GDP decrease, country is officially in recession.   Thing is that dont tell all of country economic health.


Recession is when country GDP decrease for 6 months in a roll. Most if not all countries are out.

Roughly yes.  Back-to-back quarters of negative GDP growth define an official "recession".  However, note that in these cases, the recession is deemed to have begun with the first negative quarter.  It's perfectly possible that the US, for example, is already in a recession (we don't yet know Q3 GDP let alone Q4 and Q1) and it will be many months before this uncertainty is resolved.


Q4 barely started. When results of Q3 will be known you can say for sure. But word now you are in recession or not, should not change much. It is just a term that is used. And usually abused by politicians to cut social rights. Every government should act wisely if they will go to recession when GDP in Q3 will be calculated or not.
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