National Debt Oct 1, 2009 $11,920,519,164,319.42 National Debt Sep 30,2010 $13,561,623,030,891.79

Treasury Direct ^ | October 1, 2010 | steelers6

[CPT Clay]

OMG

[Tolerance Sucks Rocks]

Imagine each dollar as a cubic inch. Then $1,000 dollars will be a cube 10 inches to a side. One million dollars will be a cube 8’4” long, 8’4” wide, and 8’4” high. One billion dollars will be 83’4” to a side, and one trillion dollars will be a whopping 833’4” high (not to mention the same for length and width).

Now, imagine 13.6 of these monster cubes lying around. There’s your national debt!

[Tolerance Sucks Rocks]

Oh, and don’t forget another 130 monster cubes for our unfunded liabilities!

[Tolerance Sucks Rocks]

Defaulting on our debt is always an option, if you like paying $10,000 dollars for a 6-pack of Bass Ale.

[familyop]

I recently asked a woman if she was getting ready for the depression. She replied, “I’m a teacher!” [Elementary ed. type.] Then she said, “I think the economy is improving,” and proceeded to lecture another young woman toward “socializing” more.

Political correctness is and has been the problem. When heavy manufacturing is happening as it was before active globalism (over 30 years ago), we’ll begin to see a recovery. Until then we’ll see proper punishment.

[familyop]

And yes, the default will come. Our most respectable “taxpayers” of today, dependent on big government to various extents, will do everything that they can to delay the default, as our government continues to have enormous amounts of financial instruments (”money”) devised (”printed”) with no basis on material objects (assets of any value). They default will happen, after the riots scare them into submission (see Argentina).

[familyop]

The default will happen, even (re. error, “they”).

[ex-Texan]

NYT: Expect More Bailouts !

Excerpt:

In the distant past * * * In times of trouble, clearinghouses also allow hobbled firms to unwind and quickly reassign their positions to other, healthier players. * * *

But clearinghouses sometimes collapse, as Craig Pirrong, professor of finance at the University of Houston, points out.

“Clearinghouses are intimately connected with the financial system and overall banking system, so the idea that clearinghouses reduce the interconnectedness of the financial system is incorrect,” he said. “They are big, interconnected and they can fail when we have big market shocks.”

In the Gold Panic of 1869, which caused New York markets to seize up, the clearinghouse for the gold exchange failed. And in the 1987 stock market crash, members of the Chicago Mercantile Exchange, the Chicago Board of Trade and the Options Clearing Corporation received emergency infusions, Mr. Pirrong said.

“It’s a dilemma,” he added. * * *

Yup. It sure is a dilemma, with Helicopter Ben at the helm. LOL, LOL !

A hat tip to M. Espinola for the news source above.

[ex-Texan]

And the Euro is facing BIG troubles, too . . .

Joseph Stiglitz: "The Euro May Not Survive"

Make me want to lay down and laugh myself to death. The whole world has gone stark raving nuts. . . . LOL, LOL !

[Quix]

THX FOR THE PINGS.

[stephenjohnbanker]

” “THE crisis is about loss redistribution,” said Edward J. Kane, professor of finance at Boston College and an authority on regulatory failures. “In a crisis, these institutions have much more power with the government than taxpayers do and they will make it seem in the interests of responsible officials to rescue them, whether that’s Congress, the Treasury or the Federal Reserve. But the notion that you can always throw these losses on the taxpayer in the long run is very, very dangerous. There will come a time when the taxpayers will come close to revolt.” “

Uh...... duh ;-)