What is Our REAL Debt Level?

Off Topic Politics and World Issues
1

"Has our government been playing accounting games like European tax payers discovered in Greece and like many angry tax payers are now discovering in local, city, state and sovereign governments across Europe and the US? All are now learning how the use of off balance sheet accounting and cleverly structured Interest Rates Swaps have been applied to obscure visibility to toxic debt levels from the very tax payers who will be responsible for the debt obligations.

Is our government playing the role of Jack Nicholson in â??A Few Good Menâ?? when he condescendingly justified his behavior, yelling in the courtroom: â??You canâ??t handle the truth!â??

If you can handle the truth then let me explain some very suspicious behavior of our trusted Uncle Sam."

http://www.marketoracle.co.uk/Article19087.html

2

Good article.

I am going to have to come back to it latter for a deeper dive.

3

America is the next Greece. Europe will fall into the crisis first then we will follow. Depending on what china does it will either leap frog to the front or head straight into a civil war with itself.

The next decade will be called in the history books the decade from hell if we do not change are ways soon.

4

The US has something like 100 trillion dollars in unfunded/underfunded liabilities due in the next 50 years. The total net income projection, at best, is something like 70 trillion dollars. So yea, we are fucked no matter what.

5

$108 trillion in unfunded liabilities and $13 trillion in financed government debt

6

Over 9000.

7

[quote]orion wrote:
Over 9000.

[/quote]

A statistic calculated last Thursday.

8

[quote]orion wrote:
Over 9000.

[/quote]

WHAT 9000!!! THERE’S NO WAY THAT CAN BE RIGHT!!! :slight_smile:

9

[quote]BackInAction wrote:

[quote]orion wrote:
Over 9000.

[/quote]

WHAT 9000!!! THERE’S NO WAY THAT CAN BE RIGHT!!! :)[/quote]

Mmmm, I don’t know. That’s what I’m showing on my scouter, too.

10

how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”.

11

[quote]StevenF wrote:
how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]

If so I’m outta here.

That movie sucked.

12

[quote]StevenF wrote:
how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]

A Brave New World with a pinch of Mad Max would be a more accurate depiction of our future.

13

[quote]StevenF wrote:
how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]

The US is not going to devolve into anarchy. It’ll just fade away like Portugal, Britain and all the other major powers have before.

There was a time where Portugal was poised to take over the entire world. After them, it was the Dutch. Next were the Brits. Then the Brits and French traded top spots for a few decades before Germany/Prussia took away the top spot for a few decades, etc etc.

The US will simply follow in this pattern. We are already in the midst of relinquishing the top spot to China right now. Every major power has it’s time at the top then fades into the background.

14

[quote]0mar wrote:

[quote]StevenF wrote:
how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]

The US is not going to devolve into anarchy. It’ll just fade away like Portugal, Britain and all the other major powers have before.

There was a time where Portugal was poised to take over the entire world. After them, it was the Dutch. Next were the Brits. Then the Brits and French traded top spots for a few decades before Germany/Prussia took away the top spot for a few decades, etc etc.

The US will simply follow in this pattern. We are already in the midst of relinquishing the top spot to China right now. Every major power has it’s time at the top then fades into the background.[/quote]

While this trend is undoubtably true I wouldn’t be so fast to proclaim China as “next”. Lots of very smart people said that Japan was going to be the next major power in the late eighties.

Hell you can even make a case now that India is better poised to do so than China.

15

[quote]JoeGood wrote:

[quote]0mar wrote:

[quote]StevenF wrote:
how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]

The US is not going to devolve into anarchy. It’ll just fade away like Portugal, Britain and all the other major powers have before.

There was a time where Portugal was poised to take over the entire world. After them, it was the Dutch. Next were the Brits. Then the Brits and French traded top spots for a few decades before Germany/Prussia took away the top spot for a few decades, etc etc.

The US will simply follow in this pattern. We are already in the midst of relinquishing the top spot to China right now. Every major power has it’s time at the top then fades into the background.[/quote]

While this trend is undoubtably true I wouldn’t be so fast to proclaim China as “next”. Lots of very smart people said that Japan was going to be the next major power in the late eighties.

Hell you can even make a case now that India is better poised to do so than China.[/quote]

True, we don’t really know who’s going to hold the mantle after we relinquish it. China, India or even a coalition of nations are all very good possibilities.

16

[quote]0mar wrote:

[quote]JoeGood wrote:

[quote]0mar wrote:

[quote]StevenF wrote:
how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]

The US is not going to devolve into anarchy. It’ll just fade away like Portugal, Britain and all the other major powers have before.

There was a time where Portugal was poised to take over the entire world. After them, it was the Dutch. Next were the Brits. Then the Brits and French traded top spots for a few decades before Germany/Prussia took away the top spot for a few decades, etc etc.

The US will simply follow in this pattern. We are already in the midst of relinquishing the top spot to China right now. Every major power has it’s time at the top then fades into the background.[/quote]

While this trend is undoubtably true I wouldn’t be so fast to proclaim China as “next”. Lots of very smart people said that Japan was going to be the next major power in the late eighties.

Hell you can even make a case now that India is better poised to do so than China.[/quote]

True, we don’t really know who’s going to hold the mantle after we relinquish it. China, India or even a coalition of nations are all very good possibilities.
[/quote]

Do you guys think the US could change things and turn this around?

17

[quote]dmaddox wrote:

[quote]0mar wrote:

[quote]JoeGood wrote:

[quote]0mar wrote:

[quote]StevenF wrote:
how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]

The US is not going to devolve into anarchy. It’ll just fade away like Portugal, Britain and all the other major powers have before.

There was a time where Portugal was poised to take over the entire world. After them, it was the Dutch. Next were the Brits. Then the Brits and French traded top spots for a few decades before Germany/Prussia took away the top spot for a few decades, etc etc.

The US will simply follow in this pattern. We are already in the midst of relinquishing the top spot to China right now. Every major power has it’s time at the top then fades into the background.[/quote]

While this trend is undoubtably true I wouldn’t be so fast to proclaim China as “next”. Lots of very smart people said that Japan was going to be the next major power in the late eighties.

Hell you can even make a case now that India is better poised to do so than China.[/quote]

True, we don’t really know who’s going to hold the mantle after we relinquish it. China, India or even a coalition of nations are all very good possibilities.
[/quote]

Do you guys think the US could change things and turn this around?[/quote]

No, the institutional inertia is simply too much. SS is broke, Medicare is broke, Medicaid is broke. Americans are broke. You can’t un-hit the iceberg.

18

[quote]0mar wrote:

Do you guys think the US could change things and turn this around?[/quote]

No, the institutional inertia is simply too much. SS is broke, Medicare is broke, Medicaid is broke. Americans are broke. You can’t un-hit the iceberg.[/quote]

welcome to Kalifornia!!!

19

[quote]0mar wrote:

[quote]dmaddox wrote:

[quote]0mar wrote:

[quote]JoeGood wrote:

[quote]0mar wrote:

[quote]StevenF wrote:
how does that even happen? I am preparing for the worst. I think its going to get ugly. I’m envisioning a United States that resembles the movie “The Postman”. [/quote]

The US is not going to devolve into anarchy. It’ll just fade away like Portugal, Britain and all the other major powers have before.

There was a time where Portugal was poised to take over the entire world. After them, it was the Dutch. Next were the Brits. Then the Brits and French traded top spots for a few decades before Germany/Prussia took away the top spot for a few decades, etc etc.

The US will simply follow in this pattern. We are already in the midst of relinquishing the top spot to China right now. Every major power has it’s time at the top then fades into the background.[/quote]

While this trend is undoubtably true I wouldn’t be so fast to proclaim China as “next”. Lots of very smart people said that Japan was going to be the next major power in the late eighties.

Hell you can even make a case now that India is better poised to do so than China.[/quote]

True, we don’t really know who’s going to hold the mantle after we relinquish it. China, India or even a coalition of nations are all very good possibilities.
[/quote]

Do you guys think the US could change things and turn this around?[/quote]

No, the institutional inertia is simply too much. SS is broke, Medicare is broke, Medicaid is broke. Americans are broke. You can’t un-hit the iceberg.[/quote]

Here I have to disagree, I don’t think it will happen but things could easily (and painfully) be fixed. In fact one of the things people who decry the growth of government ignore is that the governemnt has “ownership/control” of an enormous amount of assets that are either not being utilized at all or are being underutilized. If spending could be reigned in those assets could aid in debt repayment.

Europe on the other hand is resource poor and so in a much worse position.

Another thing that inhibits both China and India is that they will never be able to feed themselves and that will limit thier growth significantly.