Now Well Over 10 Trillion

[Revere2]

and counting like a bastard.....


http://www.brillig.com/debt_clock/

[The Buddha]

The significant number is really the percentage of debt to GDP. Evidently US is at 45 and apparently its not worrisome yet. The GDP is shrinking and much of it was fake as in ... like speculative buying of $1 million houses by people who had 30K income from their Burger flipping job and that with the swelling debt is worrisome. However much of the next few trillion in bail outs etc I believe will be financed by the printing press, we will inflate our way out of this deflation and we'll leave all dollar denominated assets not pegged to inflation (think bonds and foreigners who hold US denominated paper) ... we'll have a GDP that is increasing just cos we're printing $ faster than deflation and a debt that is swelling much slower cos 1, we are printing $ and no one wants to loan us $ and hold $ denominated paper and 2, its a good idea to balance deflation with inflation - printing $, and the supply number is hidden, well hidden from a few years ago.
Anyway, the 10 trillion is no problem, I think bernanke should just order up billion dollar notes, 10,000 of them and pass it on to whomever holding that 10 trill.
I just think printing $ is very underrated.
Oh, the chineese will not give us more $ ... really ... what are they going to do with it then ? give it to europe ? russia ? ha ha, those guys are even worse than we are. The speculation was world wide or ... even worse in europe than in US.
Cool.
Buddha.

[yamahonkawazuki]

aye the econ prob is global in nature. not matter what, everyone is hurting in the pocketbook, hell even the nigerian scammers are prolly havin to cutback too

[yamahonkawazuki]

Well, in roughly 3 days, it will be all obamas fault, with him beign captain oftheship and all that,,,

[The Buddha]

Well, in roughly 3 days, it will be all obamas fault, with him beign captain oftheship and all that,,,

It already is, the Idiotic stimulus and all.
I'd have like to see something that will run sorta counter to the direction that got us in trouble the last few years. Selling bonds and lowering interest rates are what shafted us in the first place. Rewarding saving and rewarding investment is a good first step. To do both, they need to print money to pay for anything. Stimulus is OK but the important thing is to not sell bonds for it. Printing $ will kill foreign investors, cause inflation where there is deflation now and it will give em $ for their programs and not affect anything. In the short term its the way to go. China will also learn not to manipulate currency for exporting crap to us.
Cool.
Buddha.

[jserio]

i've heard that the national debt is a bit of a tool to "freak out" us everyday citizens and that congress can "forgive" the debt at anytime. just wipe it clean. except of course the money that we actually owe other people. it's my understanding that most of the "debt" is actually to ourselves. 

[The Buddha]

The debt is to any one who bought any govt bond, T bill or sold us stuff in exchange for a promise of "we'll give you later". Cant be wiped clean, however the govt can print out the $ and hand it to them who are selling it. The govt will have to pay the yeilds etc as promised to the ones who are holding it. Of course they can print it and pay them too. Can you say inflation, which they are trying to avoid, but they oughta be creating it. I believe they secretly are, cos news of currency printing will cause more inflation than needed, and they wont have printed all the $ they needed. Better print and print fast Benny boy. You are not called Helicpoter Ben for nothing.
Cool.
Buddha.