Topic: No worries.. US debt per person only trippled from 2004-2015 (Read 4475 times)

The Japan economy was fine until they started the abenomics, don't believe the media or the economists.

WTF Japan? Ever heard of Bitcoin? Oh yeah, mtgox... nevermind.

That's a good question. I have not been able to find whether the source of Japan and China lending is the government or foreign investors in those countries.  Japan's economy is so screwed up though who knows what they're doing.

Exactly, there is an ownership shift problem in the current monetary system, it should be the one who own the assets get the ownership of both assets and issued money, but banks took ownership of the assets during the money creation process and this caused the biggest robbery in human history

For example, I'm government and I issue 100 billion dollar based on my asset (bond), I should have the ownership of both 100 billion dollar and the asset. However in today's system, if government issue 100 billion dollar based on their asset, the ownership of those bond will belong to FED, which is not owned by the government. So the banks get the ownership of large amount of assets by simply creating money

Similarly, a house manufacturer can issue 1 million dollar based on his asset (house), he should have the ownership of both 1 million dollar and the house. After he spent 1 million dollar, those dollar might come back to him to redeem the house, but until that, he still own the house. In today's system, bank took his house and give him 1 million dollar, and those 1 million dollar is created by the back of that house, this is equal to bank creating money out of nothing and buy his house

Under a gold standard, where money creation can only be backed by gold, banks can not do this, they must first get gold and then issue money, or to say, their money creation is limited by the amount of gold produced, so they can't steal at grand scale like today

53% of total foreign investment in thailand is from japan
1.2 Trillion dollars of US debt is owed to japan

how can japan be lending out so much money if they are in such deep shit themselves ?

List of countries ranked by debt/GDP (hey, at least we're not in the top 10).

 Japan    237.918%    
 Greece    158.546%    
 Jamaica    146.591%       
 Lebanon    139.527%    
 Italy    126.978%    
 Eritrea    125.785%       
 Portugal    111.556%    
 Ireland    117.122%    
 Grenada    112.567%    
 Singapore    111.017%       
 United States    106.525%    

(data from 2012)

The chart measures total public debt, instead of per-capita debt or debt/GDP.
This is why the large economies (US, CHina, Japan, India, Brazil) are shown in red.

You are right. Modified: All loans could either be paid back or written off, extinguishing all debt.

Defaulting is not paying back, so that first sentence is incorrect. Due to interest on debit being higher overall than interest on credit, there is always more debit than credit in the system, and debit will always grow faster. If everyone would pay their debts or otherwise default and lose any collateral, the banks would end up with most of the world's property. That by itself shows the banks being parasites, since they never created anything of value themselves, they only moved and manipulated money, yet they'd own almost everything.

No, i dont mean more debt. They can do it with their cool printing-machines :-)

http://www.cnbc.com/id/44051683

It is owed to anyone who has purchased:
    U.S. Treasury notes and bonds
    Foreign and domestic series certificates of indebtedness, notes and bonds
    Savings bonds
    Government Account Series (GAS)
    State and Local Government series (SLGs) and other special purpose securities.


I remember when Ross Perot ran, his main focus was the $3 trillion debt. He wanted to pay it down in 7 years. Now we have $3 trillion budgets.

then how come china and japan are in debt?

to whom do they owe it?

and where did the fed get all this money?

Oh wait, the fed doesnt even have money...

So why allow them to control our lives, because they are the only ones who can magically poof money debt into existence?

Why should we even pay them what they claim we owe them? What right do they have to claim it is their money?

Just give them all the paper trash called federal reserve notes back and let them shove it in their asses and let's just all use bitcoin or gold or silver or whatever else is fair to use. We dont owe them anything.

about 1.3 trillion to china ,1.2 trillion to japan and the other 12 trillion is national debt to the fed ,4 trillion has been printed fresh via quantative easing
interest alone is nearing  450 billion a year

and to whom do we owe this debt?

I'm afraid that those 1.3 trillion tax revenue only comes when you continuously increase the debt and print more money. If the debt is repaid, the money in economy will be destroyed, means less money to pay the tax, when the day that all the debt is paid off, there will be no money in economy, thus no income tax revenue  

I went on one of those mortgage calculator sites and plugged in our current $18 trillion debt.

With a generous rate of 2%, if we stop borrowing more and start paying a mere $800 billion per year toward the debt we'll have it paid of in 2045.

With annual income tax revenue of $1.3 trillion, that leaves us $500 billion for everything else (including our national defense which we currently spend $526 billion on).

Maybe we can save money on earmarks which cost around $1 billion per year (don't laugh, that was John McCain's entire economic strategy).

i think as long as there are millions of people in the third world willing to work in sweatshops for $1-2  a  day (children included )
then theres no way manufacturing will return to USA or northern Europe where we have human rights and minimum wages and workers unions

even the huge companies like apple and Nike are happy to exploit these countries while selling their goods for top dollar prices in "rich countries"


i dont see  that changing anytime soon

That spread will have to be closed, don't you think?

The problem with that is a us workforce costs 5-10x times more than China or Pakistan or Phillipine or Vietnam etc