US Debt at $19,959,943,400,000 will $20 trillion make the news?

[Anarchist]

debt ~50000$ per citizen, your kids born with a debt without doing anything
good job usa

[cellard]

When this thread was created, US debt was sitting at $19,959,943,400,000.

As of right now, regarding the famous usdebtclock website, we are at $19,967,475,400,00

The thread was created in the 25th of january, now it's 29th... which means debt has increased around 8 billion in 4 days!

We'll be at 20 trillion for sure next month. This is just insane. The collapse cannot be dodged, it's like 2008 all over again.

[Anarchist]

When this thread was created, US debt was sitting at $19,959,943,400,000.

As of right now, regarding the famous usdebtclock website, we are at $19,967,475,400,00

The thread was created in the 25th of january, now it's 29th... which means debt has increased around 8 billion in 4 days!

We'll be at 20 trillion for sure next month. This is just insane. The collapse cannot be dodged, it's like 2008 all over again.

Here is a good article to read on 24hgold
Post series: The myth of the strong dollar policy, Part Two
http://www.24hgold.com/english/news-gold-silver-post-series-the-myth-of-the-strong-dollar-policy-part-two.aspx?article=10288186376H11690&redirect=false&contributor=Michael+J.+Kosares

Whenever a U.S. secretary of Treasury utters the word “strong dollar policy,” the question immediately should be asked: “Strong against what?” As outlined in the Wikipedia definition immediately above, the intent of the policy is to make the dollar strong in terms of other currencies, not against goods and services, and for that reason, it is generally misunderstood.

[Sithara007]

debt ~50000$ per citizen, your kids born with a debt without doing anything
good job usa

That's what you get for invading third world nations without any reason. The Iraq invasion alone has created a net debt of $5,000 per head for American citizens. Control your horses... or watch your debt burden zoom to even further.

[Casabrandy]

debt ~50000$ per citizen, your kids born with a debt without doing anything
good job usa

That's what you get for invading third world nations without any reason. The Iraq invasion alone has created a net debt of $5,000 per head for American citizens. Control your horses... or watch your debt burden zoom to even further.

Great debt for a superpower country is usual and not an issue if we study carefully economics. We know that US has a huge debt and they are also aware to it but even though they have a huge debt, there is nothing to worry because it is just a debt and US has a lot of time to paid it because it is not necessarily to paid it on bulk because the collateral is whole country and world bank can't get it, The only choice is just to wait to be paid. And even though america will be flooded by huge debt, it will still america and nothing will gonna change, the only disadvantage is just a huge debt will be always attached to their name.

[Sithara007]

debt ~50000$ per citizen, your kids born with a debt without doing anything
good job usa

That's what you get for invading third world nations without any reason. The Iraq invasion alone has created a net debt of $5,000 per head for American citizens. Control your horses... or watch your debt burden zoom to even further.

Great debt for a superpower country is usual and not an issue if we study carefully economics. We know that US has a huge debt and they are also aware to it but even though they have a huge debt, there is nothing to worry because it is just a debt and US has a lot of time to paid it because it is not necessarily to paid it on bulk because the collateral is whole country and world bank can't get it, The only choice is just to wait to be paid. And even though america will be flooded by huge debt, it will still america and nothing will gonna change, the only disadvantage is just a huge debt will be always attached to their name.

It is usual, but in the US, the debt is even higher than the GDP. Check this:



The debt has grown even as the GDP has remained constant. This is not good for the economy in the long term.

[Victorycoin]

There is not going to be any impact, the vicious circle would simply continue because the hell of global financial system was designed to create debts that would never be paid off. As a matter of fact, printing money from thin air have always been the name of the game, money backed by nothingness - where would the money to repay it be coming from?

Donald Trump had a very good idea to remove the federal debt. Before he was considering his presidential candidacy, he once said that a one time 14.25% wealth tax on the super-rich would wipe-out the federal debt.

http://edition.cnn.com/ALLPOLITICS/stories/1999/11/09/trump.rich/index.html?_s=PM:ALLPOLITICS

But then I really doubt whether he would consider such a step now. 

I looked again at the date and that was Tuesday November, 1999, very close to being two decades afterwards!  Laudable as that sounds, but why have we heard nothing in that regards after all these years and even in the run up for his election?  One thing just called to my mind - is it the same 1% of Americans who controls 90% of the wealth of the country, who refused to back Obamacare that would now gladly part with 14.25% levy on their net worth for the sake of 99% of Americans?  Would make a very interesting movie and can't wait to see how it all works out (if ever) especially now that Trump is the number 1 citizen.

[LeGaulois]

The Federal reserve alone is a great movie to watch.

Not only these owners control the Fed but by extension, they control the United States ....

[squatz1]

Has been making the news for decades, though between 2001-present the amount of national debt has hit a disgusting rate of increase per year in the United States.

Going to have to say that I hope Trump, and the rest of the politicians in Washington D.C. are going to address the issue of this and not just keep spending more money then they can, cause if you're house is filled with shit would you make the ceiling higher or remove the shit?

[STT]

I appreciate the replies. Is there a mathematical point of no return? I am going to google it and see what I can find. Tom

The maths is fairly simple in its conclusion yes.

Ive been saying 20 trillion for some time as the actual numbers far exceed that by many measures, such as including pension liabilities.   Those pensions in turn are invested mostly in US debt which will make their losses double when debt unwinds in its present high valuations.

The entire federal income tax take will be spent on maintaining US debt interest payments if base interest rates rise to 10%.   If you are young you might think this is a very high figure but its quite feasible though we could settle for as low as 5% longer term and still the US government would stumble and falter with such a burden on its budget.

Is it already too much, certainly in any normal scenario.   However US debt is a proxy for the world economy so you have the golden child effect where no wrong can be seen.   The world can in theory keep paying off US debt and hold it forever without requesting the value back, but its really an unhealthy situation to say the least.
As a singular country barring the reserve currency effect, its gone way too far to pay off this debt without great upset.  Controlled default is most feasible and orderly, hardly an example but Greece was a bargained default scenario

[Victorycoin]

The Federal reserve alone is a great movie to watch. With a good cartel as actors acting as a govt administration while the truth is it's a private company

Not only these owners control the Fed but by extension, they control the United States .... because the federal Reserve of New York fixed interest rates and control supply in currency, across the United States, the owners of the Central Bank is the real Director of the entire system. the shareholders of these banks, which are owners of the shares of the Federal Reserve of New York, are the people who controlled the destinies of the United States, since 1914″ political and economic

Those are indeed telling and from it, we can also induct that the same "Private Company" is also in charge of many countries across the globe that obviously are appendages of America! That would also confirm that the age long held view, that the wealth of the world is being held by less than 1% of the population. The questions begging for answer are, what was the sharing formula? How come they are having so much whereas many have none?

[Harlot]

It is something that will make the media talk about but the news won't last. Because the debt will still increase overtime. Majority of the countries even the develop ones have debt that is normal because that is how a country can progress. It won't really matter for educated persons when they see that kind of debt in the television

[manselr]

The Federal reserve alone is a great movie to watch. With a good cartel as actors acting as a govt administration while the truth is it's a private company

Not only these owners control the Fed but by extension, they control the United States .... because the federal Reserve of New York fixed interest rates and control supply in currency, across the United States, the owners of the Central Bank is the real Director of the entire system. the shareholders of these banks, which are owners of the shares of the Federal Reserve of New York, are the people who controlled the destinies of the United States, since 1914″ political and economic

Then you have all those private banksters around the FED making all those big claims, like Jamie Damon telling people that they have to get used to a worse life. This is the same idiot that is saying bitcoin will never work and will die anytime a government tries to ban it. Those banksters need to get put to jail immediately if not something worse. I cant all those fucking elitist cunts. They need to be beaten the fuck out.

[South Park]

There is not going to be any impact, the vicious circle would simply continue because the hell of global financial system was designed to create debts that would never be paid off. As a matter of fact, printing money from thin air have always been the name of the game, money backed by nothingness - where would the money to repay it be coming from?

Donald Trump had a very good idea to remove the federal debt. Before he was considering his presidential candidacy, he once said that a one time 14.25% wealth tax on the super-rich would wipe-out the federal debt.

http://edition.cnn.com/ALLPOLITICS/stories/1999/11/09/trump.rich/index.html?_s=PM:ALLPOLITICS

But then I really doubt whether he would consider such a step now. 

A huge tax like that to the wealth of the super rich is never going to happen, but prepare for the possibility of that tax applying to the middle class and if that does not pass, then prepare for hyperinflation and see how the governments steal your wealth with the printing press.

[Pab]

Rich people will not pay any USA debt,usually thay dont want pay anything,taxes etc.Example can be new US Treusury secratair,he has forgot to say that he has 100mln $ on offshore acounts.Look France when Holland asked wealthy people to pay 80% of his taxes thay simply have move away from France.In a case of Trump it is just empty talk. By my opinion there is not possible to rise debt in to infinity,2008 e had crisis caused by debt,who did pay for it ordinary taxpayers and poor countries,more debt was created more virtual money appear,rates went near zero or below zero.But now in Germany inflation jumped to 4 years highthat will be in all over Europe same will be in USA that can turn in to hyperinfation,my opinion it is out of control and sooner or later that bubble will blow.It will never make the news becouse nobody knows to solve

[Victorycoin]

The Federal reserve alone is a great movie to watch. With a good cartel as actors acting as a govt administration while the truth is it's a private company

Not only these owners control the Fed but by extension, they control the United States .... because the federal Reserve of New York fixed interest rates and control supply in currency, across the United States, the owners of the Central Bank is the real Director of the entire system. the shareholders of these banks, which are owners of the shares of the Federal Reserve of New York, are the people who controlled the destinies of the United States, since 1914″ political and economic

Then you have all those private banksters around the FED making all those big claims, like Jamie Damon telling people that they have to get used to a worse life. This is the same idiot that is saying bitcoin will never work and will die anytime a government tries to ban it. Those banksters need to get put to jail immediately if not something worse. I cant all those fucking elitist cunts. They need to be beaten the fuck out.

The bankers are supposed to be the least on productivity table, because they add little or no production in creating wealth, except deceits with creation of credits, but unfortunate they are the ones eating very fat from the society, whereas the ones that toil their lives out most often eat crumbs. I have heard it said on many occasions that life isn't fair and this instance comes very handy.

[_nur]

make america great again... $20T yo

[South Park]

When this thread was created, US debt was sitting at $19,959,943,400,000.

As of right now, regarding the famous usdebtclock website, we are at $19,967,475,400,00

The thread was created in the 25th of january, now it's 29th... which means debt has increased around 8 billion in 4 days!

We'll be at 20 trillion for sure next month. This is just insane. The collapse cannot be dodged, it's like 2008 all over again.

It is even worst since at that time the debt of the countries was a lot lower now countries indebted themselves like hell, and we are not out of the crisis, so the next crisis promises to be the big one since it does not seem anyone has any weapons left to stop it.

[Sithara007]

There is not going to be any impact, the vicious circle would simply continue because the hell of global financial system was designed to create debts that would never be paid off. As a matter of fact, printing money from thin air have always been the name of the game, money backed by nothingness - where would the money to repay it be coming from?

Donald Trump had a very good idea to remove the federal debt. Before he was considering his presidential candidacy, he once said that a one time 14.25% wealth tax on the super-rich would wipe-out the federal debt.

http://edition.cnn.com/ALLPOLITICS/stories/1999/11/09/trump.rich/index.html?_s=PM:ALLPOLITICS

But then I really doubt whether he would consider such a step now. 

I looked again at the date and that was Tuesday November, 1999, very close to being two decades afterwards!  Laudable as that sounds, but why have we heard nothing in that regards after all these years and even in the run up for his election?  One thing just called to my mind - is it the same 1% of Americans who controls 90% of the wealth of the country, who refused to back Obamacare that would now gladly part with 14.25% levy on their net worth for the sake of 99% of Americans?  Would make a very interesting movie and can't wait to see how it all works out (if ever) especially now that Trump is the number 1 citizen.

According to the CNN opinion poll, a majority of the American HNWs (high net worth individuals) supported the Democrat candidate during the POTUS 2016 elections. This includes oligarchs such as Sergey Brin, Larry Page, Tim Cook, Mark Zuckerberg.etc, who are solidly anti-Trump. Trump will enjoy taxing these folks.

[STT]

one time 14.25% wealth tax on the super-rich would wipe-out the federal debt

This is not possible in effect without great destruction to industry, its a misunderstanding if anything.   If they instigated a killing fields scenario where people above a certain wealth were killed off and their value captured for government means, you would still be losing the effective use of free capital in wider industry not to mention any human value.    I assume violence because the money evade capture and most value is not stored in cash but in Cyprus they did a 'haircut' on savings so maybe Im exaggerating but I think its destructive anyway and Cyprus hasnt gone onto strengths from it

 The main loss would be lack of investment in future, it cant be understated how highly USA is regarded now in its debt worthiness.
Its become unjustified as US dollar is a proxy for world trade done.   Of course its ridiculous to be talking about seizing wealth as a way of restoring a nations fiscal problems but also it has been tried and failed many times, in case anyone forgot communism at least in as a military dictatorship did not produce prosperity.  It led to mass starvation, many programs of seizing wealth did not help countries.  Tax rates over 90% have been used in western countries, such as UK and USA in the past.  
Either the tax rate was avoided by various schemes and bargains or simply the wealth left the country and operated outside it.

The realistic outcome is default or inflation.   Politics prefers inflation and sees the stable erosion of capital as a fair tax and its also a way of seizing savings, pensioners especially suffer if not working or tied to working capital.   Default would mean strong dollar possibly and a bad reputation for future government borrowing, however business might prosper still and so the tax income allows government to continue to operate.
   The possibility Trump is going to negotiate all this seems so unlikely, bad debt absolutely will matter to USA staying as a super power and there is precedent for transition and bargaining of power by large nations being based around financial weakness.   Start exporting, run a fiscal surplus and possibly thats a real strong dollar not just a supported one