The national debt at the end of the last business day of the 2018 fiscal year, which ended on September 30, 2018 now sits at $21.5 trillion (this is the debt the government admits to). The national debt at the end of fiscal year 2017 was an estimated $20.25 trillion, yielding an increase of over $1.2 Trillion dollars in just one year.
That's an increase of almost $38,000 per second of money printing or about $8,200 per US worker (based on an estimate of 155MM people with jobs in the US).
Over the fiscal year, the gross national debt increased by 6.3% and now amounts to 105.4% of current-dollar GDP.
All of this is enabled by abandoning a hard money standard and printing money at will. Its no coincidence the timing of the exponential increase in debt all started when the US de-pegged the dollar from the last remnants of a Gold Standard in 1971.
Remember, these are supposedly "Boom Times" for America and the world economy and they have lasted for 10 years. What is going to happen to when a real recession hits? I can tell you it is not going to be good. Spending is going to increase and tax receipts are going to drop rapidly.
...and these Interest payment estimates are going to come up short..."Biggly".
Meanwhile the stock market is making new highs and the Dow just hit a new intra-day record...nothing to see here, move along.
Get your financial insurance now while you can on the cheap and eliminate as much of your debt as you can. Plan for the worse and hope for the best.
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Printing money and throwing it into the market to buy financial assets to avoid a liquidity crisis. This isn't sustainable.
This makes me want to load up on silver. Great post!!!
Silver is the best, it has so many uses. Keep on stack'n.
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Boom! Great Idea!
Someday there will be pain! Prepare now and pray often.
Most are woefully unprepared
I personally find it really hard to imagine that kind of numbers. I think a lot people feel the same. That makes it harder to understand the problem because of it, so people just don't, and you now what the say if it biger ist beter, but in this case it realy not
Yes, I agree...the folks at https://www.demonocracy.info are helping with that.
WOW!
And I thought I had an idea of how much that was.
Nope, not even close.
Thanks.
I think its why its still ongoing for now...most people can't get their minds around the fraud its so flipping large. If they ran this during an NFL game, people would start rioting.
No shit, it should be a PSA (Public Service Announcement) and be required to be aired during highly viewed content.
I think part of the ignorance of these big numbers is the advancements in technology. People are just use to the BIG numbers (always getting bigger) and have no perspective.
My first Hard Drive was 10MB and it took hours to transfer that Massive amount of data to my new 30MB drive. Now I download a 150MB Java update in seconds and I misplaced my 64GB thumb drive because its so (physically) small.
Even being a computer geek and understanding the difference between Mega, Giga, and Terabytes it is helpful visualize the difference.
Get ready for the reset. There is no other way out.
OMG, this do help, thanks
And there’s no end in sight on it either.
Its going to get worse...the one chart I have in there is from 2015 and the actual 2018 deficit is 2x what the CBO was estimating then. I think in a hard recession, we will see $2.5-$4.0 trillion deficits if interest rates move up fast enough. Then we are just shy of a Banana Republic.
Time to put on side II of Led Zeppelin IV
When the levee breaks...
😜👍
Oh!!! There you go, great song analogy!
Thank you for your continued support of SteemSilverGold
its really true that stock market is making new highs. we have to be more focussed about it
Cool. Voted up!
outstanding..I'll be following..plse. see my posts..we're on the same page..