I showed this chart to a college educated friend of mine the other night. When I asked him what he thought about the consequences of the parabolic debt growth his response was "not in our lifetime." Keep dreaming buddy.
Subprime JD: A blog dedicated to exposing the law school and higher education scam.
George Soros says that U.S. cities will start to default in 2011. Good for bankruptcy lawyers, I suppose?
ReplyDeleteThis chart is out of context... who cares about the absolute amount of the debt. What matters is the context- the % of GDP.
ReplyDelete@ 6:07 pm,
ReplyDeleteTake a look at the present national debt versus the gross domestic product of thie nation, dumbass. Get back to us, at that point!
@ 6:07 pm,
ReplyDeleteThe US national debt grew over $5 trillion in the past 3 years alone. It took us 55 years from 1940 to 1995 to add the first 5 trillion! The CBO itself projects that the country will add another $5 trillion in the next 3 years.
At this point, because credit growth in the real economy is dead, the government MUST borrow in order to introduce money into the system. Debt is money and money is debt. In our ponzi monetary system new debt (money) must be created in order to cover the interest on the already existing debt. On paper, the system works so long as the economy grows. However, the US has a plethora of problems, such as an aging population, outsourcing of labor, an overextended military, and frankly, a population and government that has become accustomed to spending and living beyond its means.
In the end, the collapse of the USD is certain. The only way you can prepare is buy purchasing real money which is gold and silver. Get in now before its too late.
Subprime, where do you get physical gold and silver?
ReplyDeleteI go to a local jewelry shop. Some jewelry stores sell bullion.I buy 10 oz silver bars, once in a while 100 oz silver bars. Mainly I buy silver liberty's which are 1 oz coins.
ReplyDeleteHere's where I go.
http://anaheimhillsjewelry.com/
Do a bullion dealer search in your area on google and you will find something. Make sure you ONLY buy Johnson Matthey or A-Mark brand bars. Liberty's are the best coins.
I am currently moving to the US. You scare the shit out of me.
ReplyDeleteWhat happens when cities default? And...?
In general, the information received was very interesting and useful, but due to the specifics of their work we would like to get more information
ReplyDelete