No worries.. US debt per person only trippled from 2004-2015 - page 3.

CoinCidental

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Quote from: Elwar on January 30, 2015, 05:42:52 AM

Quote from: grendel25 on January 30, 2015, 01:56:33 AM

So what? A lot more people are buying their own homes too. Debt per person isn't really the greatest indicator.

When paying the interest on the national debt is more than our budget...it will cause some problems.

Current interest payment is $430 billion.

The proposed Defense budget for this year is $526 billion. We will soon be paying more in interest than for our national defense.

If some politician says they have some plan for fixing the budget and it does not include addressing the huge debt, they are feeding you a pile of shit.

what possible answer could there be to address a debt that size ? im intrigued which politician can pay off 18 trillion and what with and over how many years if if the interest alone is $430 billion and growing by the day ?

Elwar

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Quote from: grendel25 on January 30, 2015, 01:56:33 AM

So what? A lot more people are buying their own homes too. Debt per person isn't really the greatest indicator.

When paying the interest on the national debt is more than our budget...it will cause some problems.

Current interest payment is $430 billion.

The proposed Defense budget for this year is $526 billion. We will soon be paying more in interest than for our national defense.

If some politician says they have some plan for fixing the budget and it does not include addressing the huge debt, they are feeding you a pile of shit.

superresistant

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Quote from: johnyj on January 30, 2015, 04:00:56 AM

Quote from: grendel25 on January 30, 2015, 01:56:33 AM

So what? A lot more people are buying their own homes too. Debt per person isn't really the greatest indicator.

IMO, the greatest indicator is income. Income does not increase as fast as debt. Now a large part of their income comes from the fact that the house will increase in price later, which is only possible to maintain by more borrowing and more money printing. It can still last for a while, but once you have been on this track for too long and you suddenly find out it is a dead end, maybe there is no way to go back by then

Any estimation on when could this happen ?

johnyj

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Quote from: grendel25 on January 30, 2015, 01:56:33 AM

So what? A lot more people are buying their own homes too. Debt per person isn't really the greatest indicator.

IMO, the greatest indicator is income. Income does not increase as fast as debt. Now a large part of their income comes from the fact that the house will increase in price later, which is only possible to maintain by more borrowing and more money printing. It can still last for a while, but once you have been on this track for too long and you suddenly find out it is a dead end, maybe there is no way to go back by then

CoinCidental

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What happens if China or Japan asked for their 2.5 trillion back?

Is that even possible? Will it just be unpaid forever or will they print more money and send it back?

I don't know how it works tbh....?

grendel25

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So what? A lot more people are buying their own homes too. Debt per person isn't really the greatest indicator.

johnyj

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Beyond Imagination

The real danger behind this is that a large part of the fiat money are backed by these debts

When the debt defaults, so goes the value of those fiat money, then the confidence about currency becomes weak, there will be inflation, and FED can only raise interest rate as a counter measure. However, that will trigger another round of assets selling, which further weaken the value of the assets that backing those currency, causing more panic inflation. Then there is no point of return

superresistant

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I can't wait for the big collapse. I'm loading my popcorn stock.

hdbuck

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Quote from: Meuh6879 on January 29, 2015, 02:06:31 PM

when all countries are debt ... the RESET of financial system is more easy ... (FMi)

"Enact Immolation Initiative"

Meuh6879

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when all countries are debt ... the RESET of financial system is more easy ... (FMi)

BillyBobZorton

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Thats why when they say "USD IS RECOVERING!!!" they never talk about shit like this. Its a massive scam.

Q7

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And who says bitcoin is not the solution to all these problems.

CoinCidental

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usa is in debt by 1.3 trillion to china and 1.2 trillion to japan iirc but majority of the debt is homemade

NeuroticFish

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I think that the better graph would be the one that shows the colors based on debt as %GDP.
Just it's not loading up for me Sad

Also, imho, more alarming is that in US the public debt change is >10%

countryfree

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Quote from: Elwar on January 29, 2015, 05:42:50 AM

The United States does not have an "EU" to implement austerity measures.

We know that, the US is a free country, its federal reserve can print as much money as it wants. Up to the point where people suddenly realizes that always creating more money creates more problems than it solves, and that the faster the money is created, the faster it depreciates.

CoinCidental

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Quote from: Elwar on January 29, 2015, 05:42:50 AM

Quote from: CoinCidental on January 29, 2015, 04:33:12 AM

Quote from: Elwar on January 29, 2015, 04:26:11 AM

It is strange that that map says the US debt is $14 trillion. It is over $18 trillion by now.

its not in their best interests to keep it updated ........its going to get bigger until it collapses
but nobody wants to say what happens when the music stops ......
just keep printing away is all they can do now .......imagine the compounded interest on 18+ trillion

Looking at Q3 2014 it shows that the debt to GDP ratio is over 100%. This is when bad things start to happen.

Greece passed 100% in 2005. The first austerity measures were implemented in 2010 by the EU to save the Greek economy.

The United States does not have an "EU" to implement austerity measures.

the US government can keep borrowing "new treasuries" from the "fed"
i dont see what else they can do and if anyone says no all the banks will fail at once ?
i read somewhere that debt to GDP is/ was at 108% recently so it maybe fucked even more than greece on paper anyway .....

Elwar

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Quote from: CoinCidental on January 29, 2015, 04:33:12 AM

Quote from: Elwar on January 29, 2015, 04:26:11 AM

It is strange that that map says the US debt is $14 trillion. It is over $18 trillion by now.

its not in their best interests to keep it updated ........its going to get bigger until it collapses
but nobody wants to say what happens when the music stops ......
just keep printing away is all they can do now .......imagine the compounded interest on 18+ trillion

Looking at Q3 2014 it shows that the debt to GDP ratio is over 100%. This is when bad things start to happen.

Greece passed 100% in 2005. The first austerity measures were implemented in 2010 by the EU to save the Greek economy.

The United States does not have an "EU" to implement austerity measures.

Elwar

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Quote from: newIndia on January 29, 2015, 04:40:06 AM

Quote from: Elwar on January 29, 2015, 04:26:11 AM

It is strange that that map says the US debt is $14 trillion. It is over $18 trillion by now.

I checked the map. It is saying that all the countries have some debt, even the green ones. I wonder, then who is lending ? I mean, is there any country without a debt ?

p.s. Sorry, I'm not good in economics.

The United States issues Treasury Bonds. Anyone, including US and foreign citizens, can buy those bonds. Some foreign governments also buy them for the stability of the investment.

cbeast

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As above, so below. Americans are only following the example of their elected leaders.

michaeladair

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U.S.A is the country that didn't take personal finance in highschool...

Topic: No worries.. US debt per person only trippled from 2004-2015 - page 3. (Read 4477 times)