- Joined
- Sep 7, 2008
- Messages
- 9,230
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- 63
Received the below comments in my email which I cut an paste here. The figures are mind-boggling. A short while ago, when Najib was in the news for 1 billion dollars deposited into his private account, it caused some discussion among my colleagues as to how much one would need to be happy. Well, all of us are salaried working class blokes, and it became apparent that all we wanted was enough to pay up our mortgage and cover our kid's education, so most of us said we'd be happy with one million bucks, very modest, but still, its a lot of money for us. Compared with the donation that Najib received, peanuts! Now, compared with this below - American debt, fuck, its nothing! And they don't look bothered by it!
Cheers!
In 2005, U.S. debt was $5.6 trillion.
In 2010, our debt reached $13.5 trillion.
Today it's up to roughly $17,274,000,000,000.
In just over one year, we've added another trillion dollars to our debt.
To get a better grasp of how much a trillion dollars really is, I invite you to consider the following, courtesy of Michael Snyder at The Economic Collapse blog:
• If you were alive when Jesus Christ was born, and you spent one million dollars every single day since that point... you still would not have spent one trillion dollars by now.
• If, right this moment, you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.
And yet the United States, an averaged-sized country, owes 17 times that amount.
In playing the role of the "world's bank" for the past few decades, whimsically printing mounds of money that other people still accept, we've avoided catastrophic market punishment.
Yes, the Fed and their loyal QE-machine have allowed us to live well beyond our means. But, as the Fed begins unwinding its stimulus, the world is in for a big surprise...
Needless to say, the market's going to receive a rude awakening in comparison to the banner year it had in 2013...
Cheers!
In 2005, U.S. debt was $5.6 trillion.
In 2010, our debt reached $13.5 trillion.
Today it's up to roughly $17,274,000,000,000.
In just over one year, we've added another trillion dollars to our debt.
To get a better grasp of how much a trillion dollars really is, I invite you to consider the following, courtesy of Michael Snyder at The Economic Collapse blog:
• If you were alive when Jesus Christ was born, and you spent one million dollars every single day since that point... you still would not have spent one trillion dollars by now.
• If, right this moment, you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.
And yet the United States, an averaged-sized country, owes 17 times that amount.
In playing the role of the "world's bank" for the past few decades, whimsically printing mounds of money that other people still accept, we've avoided catastrophic market punishment.
Yes, the Fed and their loyal QE-machine have allowed us to live well beyond our means. But, as the Fed begins unwinding its stimulus, the world is in for a big surprise...
Needless to say, the market's going to receive a rude awakening in comparison to the banner year it had in 2013...
