Posted on 10/19/2015 7:23:22 AM PDT by smartyaz
I’ve long-stated that the government of the United States is completely insolvent.
And that is 100% true statement.
The government’s own numbers show that official liabilities, including debt held by the public and federal retirement benefits, total $20.7 trillion.
Yet the government’s assets, including the value of the entire federal highway system, the national parks, cash balances, etc. totals just over $3 trillion.
In total, their ‘net worth’ is NEGATIVE $17.7 TRILLION… a level that completely dwarfs the housing crisis.
If you include the government’s own estimates of the Social Security shortfall, this number declines to NEGATIVE $60 TRILLION.
And it gets worse every year.
(Excerpt) Read more at zerohedge.com ...
Or that the only way the government can make its liabilities go away is by defaulting on the promises it has made to its citizens?
That’s their only way out: steal from you, and default on you.
* * *
And only Trump can save us. GO TRUMP!
Yeah, we’re bankrupt but it’s important to take in more illegals and muzzie “refugees” so that we can put them on welfare.
The government is bankrupt, we are in a depression that, before it plunges all the way to the bottom, will make the “Great Depression” of 1929-1940 look like a rainy Sunday afternoon it the park, and now we are importing MILLIONS of non-productive occupants. Of which at least 10% have the malice aforethought to subjugate the rest of all who now reside in that territory once known as “the United States of America”.
The Islamic State Caliphate may yet succeed beyond their wildest dreams.
Or not.
Morally and Financially.
Countdown to Federalized 401k’s....
Morally and Financially.
They are running out of things they can openly steal.
The Islamic State Caliphate may yet succeed beyond their wildest dreams.
—
They know that dumping millions on the west will financially destroy us. We will then have to contend with their war against us.
The slapd*cks in Washington could not care less about the American citizens. They will never have to worry about anything that we deal with on a day to day basis.
They'll wait until the markets tank and the Baby Boomers start screaming. Feds will take it all and deliver to the Baby Boomers "Social Security Plus."
Everyone younger with a 401k/IRA will get completely screwed.
The slapd*cks in Washington could not care less about the American citizens. They will never have to worry about anything that we deal with on a day to day basis.
When it comes crashing down, they will have to worry.
No doubt they will means test your Federalized 401k, too..
I'd like to see more detail on this. There's a whole lotta "federal land" (roads included) out there, plus assorted other resources (buildings & contents, military & other equipment, etc.); not sure how you'd tally up its value as collateral.
Better than physical presses, the Federal Reserve is (unlike anyone else) allowed to apply this to their balance books:
$0 = $1 + (-$1)
...and thus create $trillions out of nothing, on the vague notion that the $1 they hand out will someday be paid back (no rush, just pay the Fed a minuscule annual percentage interest). “Virtual particles” are a thing in physics; so is “virtual money” aka “quantitative easing”.
bankrupt....... a condition where one is unable to meet current obligations coming due
bank ruptcy occurs when lenders are unwilling to continue on a course of lending where there is low probability of being repaid
At 72% of GDP, USA debt is not yet at that point
Just for a starting data point: dividing the total US federal debt by the number of acres of federal land gives about $27,000/acre. That includes land worth practically nothing (inaccessible & inhospitable), and land of extreme value (say, the Smithsonian).
Interesting factoid to chew on.
And it doesn’t seem to matter because they just crank the printing presses faster and the world does not seem to care.
They are all in worse shape than we are.
Reminds me of the old joke with the punchline “don’t make waves!”
It's their mess, make them clean it up!
Chain em all to the deep fryers at McD's and make em work off their debts!
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