Forum Home | Log in | Signup | My Page | Rules | FAQ | Boards | Members | Search
« POPE 5 Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars 

By: Decomposed in POPE 5 | Recommend this post (2)
Sat, 30 Mar 19 5:45 PM | 67 view(s)
Boardmark this board | Pope 5 		Msg. 29114 of 62138
(This msg. is a reply to 29110 by capt_nemo)
Jump:
Jump to board:
Jump to msg. #

Uploaded Image
The truth is that we are just going to keep accumulating more debt until the system completely and utterly collapses.
- Michael Snyder

That's what I've been saying for some time. About $220 trillion. About $2.2 million per 3-person household. $733,000 per man, woman and child. More if you tack on personal, corporate, municipal and state debt.
`
As the author suggests, the problem isn't being taken seriously. A politician who tries to cut programs to reduce the spending gets voted out of office, so no one tries. Moreover, a huge chunk of the population wants federal spending to increase far beyond what it is today with astronomically expensive new programs such as Medicare-for-all, free college, free housing and Universal Basic Income.
`
About the only thing I'm certain of is that this thing will fall apart during the period when the Baby Boomers are trying to collect what is owed to them. Collecting has already begun and will take up to 20 years (based on Baby Boomers retiring at age 65 and living to 85.) At some point (or, more likely, spanning an interval), government won't have the money it needs and will be forced to take one of two actions: Default on obligations or Print more money. I don't think politicians will ever let the government default on its obligations. That would quickly result in mass starvation and death. So printing it is. And, guess what? It's what we're doing *NOW*.
`
We are already averting collapse through the printing of money and worsening of debt. We can't stop or the collapse comes immediately. But "averting" is not "preventing." It's a delaying tactic that, ironically, will precipitate an even worse collapse. Interest on the increased debt is also significant and rapidly growing, and the strategy is therefore less effective with each passing year. Government is doing less and less while spending more and more.
`
At some point, *pop*. The piper WILL be paid..
`
When that happens, the price of goods will shoot to the moon. All I can say is that folks had better have what they need before that happens. This future is inevitable barring only some sort of a major paradigm shift: War, Cheap fusion power, Space aliens who arrive and save the day. Those things aren't particularly likely or desirable.
`
Everything is cheap today. There's no excuse for not preparing for a crisis that is certain and so terrible, but people still aren't. They have their heads in the sand about the cliff just ahead; that's all I can say.




Avatar

Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

» You can also:
- - - - -
The above is a reply to the following message:
The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars
By: capt_nemo in POPE 5
Sat, 30 Mar 19 10:20 AM 		Msg. 29110 of 62138

http://www.investmentwatchblog.com/the-true-size-of-the-u-s-national-debt-including-unfunded-liabilities-is-222-trillion-dollars/

« POPE 5 Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next