Topic: US Debt Has Exploded - page 4. (Read 10025 times)

Everyone has pay taxes no matter what lol.

Its just a matter of what percent can you decrease it to is the real issue. You can see a whole documentary on that google double irish sanwich and how big corps do it.

But for us common folk who has no access to enormous power, yeah smurfing will catch up with you so quick. For those who dont know what smurfing is you can look it up lol.

Personal bankruptcy proclaimed in agreement with the bank and the court,
and is the protection of those who fell into debt.
The goal is not to sanction the borrower, but he gets a possibility to re-start earning.

I think this also mean he is tax free because of proclamation of bankruptcy.

Even doing that might not be enough to be self-suficient.
You still would have to pay taxes and submit to the government's laws and regulations...

Better question is how survive this scenario? And what we can see after this collapse?
Probably many people will be at the edge of starvation.
More homeless more sad stories..

 Rest of the world i won't mention same will follow.

"US unemployment rate fell 0.1 percentage points in January 2016 to 4.9%.
The unemployment rate peaked in October 2009 at 10.0% and is now 5.1 "
from: http://www.deptofnumbers.com/unemployment/us/

More than 500,000 people homeless in the United States in 2015 but i can't get info about 2016.

And will be worse!

Probably best solution is go back to nature far from city and create small self sufficient communities..
This is going to be only hope for many people i think.
Grown your own food and be more economical don't throw your money on
expensive unnecessary thing today. Save gold and silver and BTCs.
Learn new skills !
http://economicoutlook2015.com/economic-collapse-2015-51  *Maybe they mishit a year but read in any case.

We've catapulted off the cliff and there is no looking back now. The inevitable collapse is going to come of fiat money. Hopefully we will return to a new honest system, whether it be bitcoin, gold and some other basket of commodities, who knows. Anything will be better than the farce we currently are enslaved to.

Say thing is the U.S Government don't care about it at all. We are so much in debt that we can't help, the people that live in the U.S.A. But we have the money to help the others come take are right from us. 

that is massive of big debt,it just a bunch of paper,so many papper that thing called "money" i wonder how can US have so many debt,and for what?from where they get that loan?

Paper dollars do exist. Do you know what they are called? They are M0.

Do you know what M1, M2, M3 and all the rest are?

Now, how much M0 is there in the US? There is about $1.39 trillion dollars.

That's up from 2008:

http://visualeconomics.creditloan.com/the-value-of-united-states-currency-in-circulation/

That is all the US paper dollars and coins in the world. That's it.

Now, let's talk about assets. How much is all the real estate in the US worth? $14 trillion. How about all the stock? $22 trillion. How about the value of all the bonds? $37 trillion.

US Real estate + US stock + US bonds = 73 trillion

And that's just some of the assets owned by people in the US. The US GDP alone is 18 trillion.

Nobody holds dollars. Now, if you are saying some drug dealers has $20,000 in $100 bills somewhere for some period of time, sure. But in terms of economics and wealth, that is as meaningful as the $140 or so I have in my wallet right now.

Yes, they do. They like cash paper dollars a lot until they launder them. Very, very many other people in the world hold paper dollars. You just don't see all of this from your basement.

Whatever you were reading was written by someone who knows absolutely nothing about money and economics.

Reality check:

1. Half of Iran's assets are still frozen by the US and other countries, about $50 billion dollars. Of course they don't want to trade in dollars, Iran's biggest trading partner is Europe. Russia the largest oil trading partner with China. Do you know who the #1 producer of oil in the world is? The United States.

2. SWIFT is an international transfer system that is not run by the US and which doesn't have much to do with the dollar. It is under the law of Belgium, if I remember correctly.

3. Zimbabwe did not dump the US currency at all. China forgave $10s of million in debt if they would also use the Yuan as a currency. Zimbabwe uses the South African rand and dollar as currencies and will continue to along with the yuan.

4. There is zero chance the US dollar will be worth "toilet paper" any time in the future. The US dollar has appreciated against almost all major currencies in the last 5 years including the Euro (1.5 -> 1.1), Japanese Yen (1.2 -> .87), Canadian dollar (1 -> .72), Swiss Franc (1.3 -> 1.01). Against the Yuan it's basically been flat in the last 5 years because the Yuan went up and down. It peaked around .165 dollar/cny and is now .15.

In the last 5 years, the Russian ruble has collapsed against the dollar. From .034 dollar/rub to .01 dollar/rub

No, corrupt people do not hold dollars. A bank deposit is not a dollar, it is a loan to a bank. A deposit of dollars in a bank doesn't just sit there. The dollars are lent out by the bank as debt. Nobody "holds dollars". I have the dollars in my wallet, that's it. My holdings are in stocks, bonds, real estate and a variety of other assets. None of those are dollars. The same goes for "corruptioninists", whatever you mean by that.

How i sthis news? Remember a year ago, and 3 years ago when they raised the debt ceiling? It is happening and it will keep on  happening again and again, until they can't raise anymore.
I guess it's a matter of years now.

why do people keep repeating this myth? Its a zero sum game...

That graph doesn't show them owing money to themselves, it shows that >75% of the debt they owe is to organizations outside of the US government, and thus they still maintain huge amounts of debt that they can't just "wipe away".

They also show the percentage of debt owed to different countries, if they had to make a graph for every institution there would be more than 100 articles on the graph.

US government owes most of money to several rich clans in USA and in other countries. These clans own US government through this debt. This is not the same as owing money to themselves.  

Oh Man Now I have to pay more dam Taxes. But good news BTC will always be safe bet with me.

Yeah so it means on average they just owe money to themselves. But to be complete your graph should include the debt of the institutions to other countries ^^

I read once that there isn't that much money in the whole world as it is the US debt. To whom is the US so in debt? Mars?