Cool visual of America's National Debt...

Where does it all end tho? I just fail to see how the heck the world gets out of this mess.

Its like someone having £50k credit card debt and a 20k/year salary. Just no way of getting out of it without serious repercussions?

Anyone knowledgable about this subject that can help? Is it going to take 100 years+?

Are we going to suffer a decline in living standard for generations?
 
Its just huge international Pnozi scheme and unsustainable
http://en.wikipedia.org/wiki/Ponzi
they will tax tax tax Us all (middle and working class) and cut cut cut. The repayment of countries debts will only work if the country returns to reasonable growth and has easy access to cheap energy. How can we have infinate growth when we have very finate resources.

The debt laiden and broke countries are all borrowing massive amounts of money just to lend to other debt laiden and broke countries.

The rich are lining their pockets with this fraud (Over paid financial jobs to manage this scheme, Bonuses , forced privatisation of public assets) They are then exchanging the papercash for massive amounts of gold and swiss francs. Hence the price around $2000 and ounce....They know what’s coming!

Look to history and the great depression, nothing much new. America is currently printing trillions upon trillions of dollars lets call it 'quantitive easing' lol (QE1,QE2 welcome to QE3) worthless paper money, this only delays the inevitable. Expect to pay much much more for your food, gas, pertol, electricity,clothes NI and income tax. The job market will contract by a massive amount, expect civil unrest, strikes. Paper currency will collapse, They then will declare a bank holiday (You can’t take your money out of the bank) and maybe set a gold standard. Going by history the next step probably will be the drum beats of war.

At the very least get out of debt and prepare for harsh times.
 
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vicisthebest said:
Wow. Even with those images, it's still very hard to imagine simply how much money that is.
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It is impossible for our tiny monkey brains to really understand a number like that. We evolved to deal with numbers like 2 and 4 and maybe 7, at a push, beyond that the numbers relate to concepts like 'lots' and 'loads more than lots' rather than actual numbers.
 
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Mr Jack said:
It doesn't. The number, essentially, comes from silly games (I also love the way that in the OP's image they've artificially raised the height of the 114.5 trillion by halving it's basal area).
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Didn't they do that to make it the same basal area as the WTC buildings for comparison sake?
 
Mr Jack said:
Not really. America's economy is already growing, Germany and France are growing, China and India are growing. Assuming the idiots in congress don't cause a default, it's very likely the US economy will grow over the next 12 months and carry on growing in the following years.
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Only because the West are buying thier goods and services with credit. When this ends/contracts they are in big trouble. China and India are borrowing/printing massive ammounts of money based on this (expected) continued growth. We the west cannot continue the nations credit cards are over the limit.

America is running a 10 percent unemployment rate and rising.

When things start to bite harder buying the latest Ipads and Iphones every year that this consumption society relies upon will stop.
 
physichull said:
In normal persons terms, what does this mean?
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It means we have borrowed 3.88 times what we produce in a year. Or in other words if the government completely stopped paying all its costs and put all its income into paying down debt, it would still take almost 4 years.

To give you a comparison, most big blue chip businesses borrow about 3 times their profit (rather than their revenue, which is what GDP represents for us). The bottom line is that we have way way too much debt. Assuming those numbers are correct, proportionally we have around 3.9 times more debt that the US has.
 
boxman2000 said:
US/world debt WILL go bad one day soon and this sort of thing is a serious game changer. :eek:
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If the whole wolr dis in debt to each other, then when it goes bad it means nothing as technically the whole world will write of each others debts effectively cleaning the slate and starting again. Its only bad if 1 or 2 medium sized economies get panned and send world markets into freefall. The whole world goingbust together doesn't make any difference though unlesss we actually owe money to our martian overlords for Alpha Centauri, then they will come here and vaporise the planet to make way for an inter stellar motorway
 
Madness really considering notes are representative of gold.

Wonder where all that gold is pmsl. Not worth the paper its printed on. Time to go all star trek and write off money all together. Work for the love of the world etc.......

Not in our lifetime
 
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