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RESEARCH FROM CREDIT SUISSE: AMERICA IS NOT BROKE (NOT EVEN CLOSE)
Pragmatic Capitalism ^ | 04/21/2011 | Cullen Roche

Posted on 04/21/2011 10:33:41 AM PDT by SeekAndFind

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1 posted on 04/21/2011 10:33:55 AM PDT by SeekAndFind
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To: SeekAndFind
Sweet. Now all we have to do is confiscate 12 trillion of the stored wealth of Americans and we're home free.

Yea, that's sarcasm.

2 posted on 04/21/2011 10:37:03 AM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: SeekAndFind

There are three kinds of lies: lies, damned lies, and statistics.


3 posted on 04/21/2011 10:37:29 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: SeekAndFind

The only question I have is this — what is this $57 Trillion being measured as ? Right AMERICAN DOLLARS.

And what’s the value of American Dollars measured against REAL COMMODITIES these days?


4 posted on 04/21/2011 10:37:33 AM PDT by SeekAndFind
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To: SeekAndFind

So all washington has to do is to figure out how to seize all those household assets for redistribution. No problem, I’m sure everyone will be happy to go along with hat.


5 posted on 04/21/2011 10:38:24 AM PDT by farmguy
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To: SeekAndFind
Under the current income tax, pay as you go system, the government is actuarially broke. Under the endgame of Obama's desired spread the wealth around, with wealth confiscation, we could pay our obligations, both actual and actuarial (i.e., medicare/Social Security/medicaid) by seizing most of the privately owned wealth in the country.

I don't want that!

6 posted on 04/21/2011 10:38:46 AM PDT by Pearls Before Swine
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To: Lurker

RE: Sweet. Now all we have to do is confiscate 12 trillion of the stored wealth of Americans and we’re home free.


Yes, according to this article : Household net worth is $57T. Public government debt – including the state and local sector – is about $12T.

12 Trillion is just 20% of the private net worth of America.

Obama’s reasoning would then go like this -— BE A PATRIOTIC AMERICAN AND GIVE UP JUST 20% OF WHAT YOU OWN TO MAKE THIS COUNTRY DEBT FREE !!

I guess that’s what the Pelosi’s and the Reed’s have in mind -— America hold a garage sale and can liquidate just 20% or so of their assets for a decent price, then turn over the proceeds to the government, viola’, the crisis is no more!

Why don’t they campaign on this??


7 posted on 04/21/2011 10:41:51 AM PDT by SeekAndFind
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To: Nailbiter

read later


8 posted on 04/21/2011 10:42:15 AM PDT by Nailbiter
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To: SeekAndFind

So let me get this straight. Their claim is that because our collective net worth can cover our collective debt that we’re not broke?

I assume this isn’t satire and wasn’t intended to be a joke. The only response I can post without getting censored by the moderators is: WTF?!

(I am not an economist. I did not major in economics. And I most certainly did not sleep at a Holiday Inn Express last night.)


9 posted on 04/21/2011 10:47:51 AM PDT by BuckeyeTexan (There are those that break and bend. I'm the other kind. *4192*)
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To: Lurker

I guess if I keep my credit card maxed out, and I keep getting the bank to raise the credit limit, and I keep borrowing money to pay the minimum, I wouldn’t be broke either.


10 posted on 04/21/2011 10:48:31 AM PDT by NavyCanDo
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To: SeekAndFind

***** In a recent research piece Credit Suisse shows that America is far from being broke. ****

As my little niece said thirty five years ago when she was 5 years old, she wanted a toy.

Her mom said “we don’t have any money for it!”

My neice said...”Well write a check for it!”


11 posted on 04/21/2011 10:51:20 AM PDT by Ruy Dias de Bivar (Click my name. See my home page, if you dare!)
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To: SeekAndFind

“And these are NOT the droids you are looking for...”


12 posted on 04/21/2011 10:54:24 AM PDT by Mr. K (this administration is WEARING OUT MY CAPSLOCK KEY~!! [Palin/Bachman 2012])
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To: SeekAndFind

And, what about the $100 trillion plus in unfunded liabilities? Or does that require additional garage sales?


13 posted on 04/21/2011 10:55:34 AM PDT by gleneagle
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To: Pearls Before Swine

Three weeks from tomorrow my son graduates from college with a degree in Actuarial Science. Boy! Is he ever going to have an interesting career?!!!


14 posted on 04/21/2011 10:56:34 AM PDT by StonyMan451
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To: SeekAndFind

America is not broke, but the US government is.


15 posted on 04/21/2011 10:58:57 AM PDT by RobRoy (The US today: Revelation 18:4)
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To: SeekAndFind

But if we cash in everybody’s estate and sell everybody’s house, who will the buyers be?

The problem with this circular line of thinking is that the wealth that is in American’s hands can mostly only be sold to Americans. If that is the case, if confiscated, there will be no buyers and therefore no value.


16 posted on 04/21/2011 11:00:18 AM PDT by Only1choice____Freedom (FDR had the New Deal. President 0bama has the Raw Deal.)
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To: SeekAndFind
Public government debt – including the state and local sector – is about $12T.

I'm mystified. If total government debt including obligations of the states is $12T why does the debt ceiling have to be raised above $14.3T for the Federal Government alone ?

Also there's the small matter of the Net Present Value of the future obligations of the Federal Government Social programs (Social Security, Medicare, Medicaid, Federal pensions etc etc ) currently estimated at anything between $48T and $78T. ( Future Pension obligations of the States and Municipalities of course are not included). The Federal Government is a bit like Enron, the nasty bits are kept off the balance sheet.

17 posted on 04/21/2011 11:01:18 AM PDT by Timocrat (Ingnorantia non excusat)
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To: AbeLincoln
Three weeks from tomorrow my son graduates from college with a degree in Actuarial Science.

So does one of my nieces!

18 posted on 04/21/2011 11:01:38 AM PDT by Pearls Before Swine
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To: SeekAndFind

re: ““Some of our senior politicians and market pundits say it every day: “America is broke.””

This is the essential lie. No one is saying that America as a people are broke - IT IS THE U.S. GOVERNMENT THAT IS BROKE!!

It is the government that is committing us to debt that it cannot pay - because it is the government that is over spending!


19 posted on 04/21/2011 11:02:14 AM PDT by Nevadan
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To: RobRoy

re: “America is not broke, but the US government is.”

Exactly right!


20 posted on 04/21/2011 11:03:35 AM PDT by Nevadan
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