| The Gross National Debt |
Food for thought: If we were to somehow reverse this massive accumulation of debt and pay back one dollar every second (a fleeting instant in time) starting today, by the time the $10.2T was paid back, it would be the year 325,447 AD.
Randy
6 comments:
Hmmm, took a month to blow 300B, now it only took 5 days for 200B. At this rate it'll be 1.2T at the end of this month. Here a billion, there a billion, soon you'll talking about real money.
Heard on the Tin-Foil hat forum that new power lines are being installed from Hoover dam to the Feds so the treasury won't run out of power for the printing presses.
A race to the bottom, bend over and grab your ankles. I'm from the government and HICA.
Jim
I think most of us here knows that the national debt is never meant to be repaid. If at all, these debts (i.e. treasuries) would be repaid in greatly depreciated dollars. They may also go into default...although the printing presses of the Fed make that less likely...if there aren't enough buyers for the next year's treasury paper. That would be really the endgame for the dollar...when there are no buyers for Govt. Treasuries, and all deficits would have to be monetized.
I haven't done the calculation myself because my calculator doesn't have that many digits ;) but assuming that all the figures are correct this is one of those things that makes you truly think "holy shit".
senote,
The math is very basic and correct:
$10T divided by sixty seconds (in a minute) divided by 60 minutes (in an hour) divided by 24 hours (Day) divided by 365 days (Year) = Answer.
Yes, Holy Shit!
One of these days the debt bomb is going to blow up.
And the debt bomb will go off.
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