Our national debt now equals all the money in the world!

[mystery-ak]

August 25, 2024
Our national debt now equals all the money in the world!
By David Walls-Kaufman

Amazingly, the United States GDP is $16 trillion per year, and our national debt is now $35 trillion.  Our biggest national expense is interest service on the debt.  But we don’t all know that $36.8 trillion represents all the money in the world.  Put that in your pipe and smoke it.

A few weeks ago, I looked up how much money there is in the whole world.  I did this because I was making the point that if a person is sick enough and close enough to death, then all the money in the world poured into medical care will not bring him back.  Furthermore, not all the money in the world spent on medical care will bring him back from any successive drop down the ladder of well-being toward the point of no return.  Drugs are artificialities.  They cover up symptoms, but they do not substitute for the holistic requirements, like good food, sound exercise, meditation, prayer, like chiropractic, that actually improve the body in multiple physiological ways.

The World Atlas says that all the money in the world equals $37.8 trillion.  Our debt now equals all the money in the world?

more
https://www.americanthinker.com/blog/2024/08/our_national_debit_now_equals_all_the_money_in_the_world.html

[libertybele]

Holy crappola!!!   I don't think there's any coming back from this??

[Hoodat]

Holy crappola!!!   I don't think there's any coming back from this??

We can come back from it.  But we have to choose to start.  And that ain't happening with the current Presidential candidates.

We'll see where Argentina is five years from now.

[Free Vulcan]

Holy crappola!!!   I don't think there's any coming back from this??

How we are managing to keep things relatively afloat right now astounds me. Everything should have just simply collapsed by now.

[Smokin Joe]

How we are managing to keep things relatively afloat right now astounds me. Everything should have just simply collapsed by now.

wait for it....

...after the election, depending on who wins.
After 8 trillion in new debt (in <4 years!), who needs COVID to wreck the train?

[Hoodat]

How we are managing to keep things relatively afloat right now astounds me.

Like this.

Everything should have just simply collapsed by now.

Give it time.  The Weimar Republic had the French Army marching on the Ruhr in 1923 to speed up their collapse.

[Free Vulcan]

Give it time.  The Weimar Republic had the French Army marching on the Ruhr in 1923 to speed up their collapse.

The fact that it is taking time is what astounds me. The mammoth amount of shell-gaming is unprecedented because in historical terms like Weimar the wheels should have been off 5-10 years ago. I honestly don't know how they are keeping it together.

We are far more fragile than in '07/'08, the last time the wheels fell off, with 15 more years of sidestepping the laws of economics. The complexity and effort it must take to manage it must be Herculean.

[corbe]

[DefiantMassRINO]

If the private sector won't buy US Government Debt instruments, Government entities will step-in to buy them - Social Security Trust Fund, Federal Reserve, Federal Employee Retirement Plan, etc.

When counter-parties no longer accept payment in dollars, the Ponzi scheme will collapse too quickly for average investors to protect their dollar-denominated savings.

Prior to the US Dollar, the Spanish (silver) Dollar (minted in Mexico) was an international reserve currency.  What will be the next Global reserve currency or currencies?

[roamer_1]

wait for it....

...after the election, depending on who wins.
After 8 trillion in new debt (in <4 years!), who needs COVID to wreck the train?

It doesn't matter who wins. BOTH SIDES are printing epic, enormous debt.

The one thing that matters - To stop spending - is entirely off the table.

[catfish1957]

It doesn't matter who wins. BOTH SIDES are printing epic, enormous debt.

The one thing that matters - To stop spending - is entirely off the table.

It's a disaster either way.  And like I mentioned a few weeks ago.  Who ever is in charge gets blamed when the shoe drops.  So keep that in mind when shaking the pom poms come this November.

[Hoodat]

If the private sector won't buy US Government Debt instruments, Government entities will step-in to buy them - Social Security Trust Fund, Federal Reserve, Federal Employee Retirement Plan, etc.

This is EXACTLY what the Fed has been doing for the last 15 years.

[catfish1957]

This is EXACTLY what the Fed has been doing for the last 15 years.

Bingo...

The fact that our sovereign debt is at levels like AA+ is a joke.  As a bank  underwriter would you give a loan to a person or company that is 150% underwater on their net income?

[Smokin Joe]

It doesn't matter who wins. BOTH SIDES are printing epic, enormous debt.

The one thing that matters - To stop spending - is entirely off the table.

You may be right, but the question then becomes one of what they are going to do with the money.
One side wants to spend it entrenching the illegal army they brought in, and that is already causing problems (Aurora, CO, of note lately). They've armed and are organized, there. That's just one thing. If we have to print up another trillion to secure the border and ship them out, I'd rather see that done with the money than bring more in. We can't afford it either way, but at least one might have some beneficial effect, instead of a certain detrimental one.
If 87,000 new armed IRS agents, and the imposition of more new industry crushing demands via the Green New Deal is what they are spending it on, we're in more trouble than I like. Give the Communists enough printing presses, and they will enslave us as they crash the economy, and be 'joyful' the whole time.
Either way, the Congress won't get the grip on the purse strings.

[roamer_1]

You may be right, but the question then becomes one of what they are going to do with the money.
One side wants to spend it entrenching the illegal army they brought in, and that is already causing problems (Aurora, CO, of note lately). They've armed and are organized, there. That's just one thing. If we have to print up another trillion to secure the border and ship them out, I'd rather see that done with the money than bring more in. We can't afford it either way, but at least one might have some beneficial effect, instead of a certain detrimental one.
If 87,000 new armed IRS agents, and the imposition of more new industry crushing demands via the Green New Deal is what they are spending it on, we're in more trouble than I like. Give the Communists enough printing presses, and they will enslave us as they crash the economy, and be 'joyful' the whole time.
Either way, the Congress won't get the grip on the purse strings.

It's all the same damn government. Y'all just think your guy can run it better. That misses the point, because no matter what the government will grow, again, exponentially, and that which the Democrats can't seize a hold on, they'll seize next time, sure enough.

The ONLY thing that will make it better is less size, less power. Then when next the Dems come to power (and they will), they'll have a helluva lot less to work with.

That is the answer, and the only answer.

[Hoodat]

You may be right, but the question then becomes one of what they are going to do with the money.

Help Democrats get elected.  That goes for both sides.  The Dems wouldn't have won in 2020 if not for all that $3 trillion in Covid money.

[Smokin Joe]

It's all the same damn government. Y'all just think your guy can run it better. That misses the point, because no matter what the government will grow, again, exponentially, and that which the Democrats can't seize a hold on, they'll seize next time, sure enough.

The ONLY thing that will make it better is less size, less power. Then when next the Dems come to power (and they will), they'll have a helluva lot less to work with.

That is the answer, and the only answer.

In a perfect world, (If'n I had my druthers), the Federal Government would be cut by about 90%. Whole departments closed. I don't expect to get much of that if any this go-round. At that point it becomes a question of which parts of it are going to expand? Under Harris, (not that there are any right parts, really) all the wrong parts will grow, get the money, and be used against us.

So, to me, the choice is between someone who has vowed in the past to make a total trainwreck out of the country, along the current path, just harder, more Obama transformation, or-someone who likely isn't going to make such an absolute balls-up mess of everything. I really do not like the direction that this country is headed currently, from stolen elections, corruption, the whole antigun thing, raising taxes on money you haven't made yet (if you ever do), and letting in and giving citizenship to some up to 20 million illegals, just for a warmup. The 'Green New Deal' is the icing on that cake.

That's so bad I have to (as in feel morally obligated to) vote against that, and hope whatever money we don't have gets spent better under the other guy.

Consider, most of my life I have voted against a candidate, not for one, and it's SSDD. In reality I could withhold my vote and it would make no difference for the electoral college. ND will go GOP, anyway, but I want to push the total higher on the popular vote side, just to make the steal a little harder.

[Smokin Joe]

Help Democrats get elected.  That goes for both sides.  The Dems wouldn't have won in 2020 if not for all that $3 trillion in Covid money.

I pray that mess was a one-off in our country's history. ABCNNBCBS get as much credit for that as the Wuhan Institute, with our own Medical Establishment in cahoots. They released the bug, and let loose the panic, worse than any we've seen (the panic, not the bug).

[Hoodat]

I pray that mess was a one-off in our country's history. ABCNNBCBS get as much credit for that as the Wuhan Institute, with our own Medical Establishment in cahoots. They released the bug, and let loose the panic, worse than any we've seen (the panic, not the bug).

Covid was a one-off in our country's history.  Printing up $2 trillion per year to help Democrats get elected is not.  It is the new normal, proving that the Republicans are indeed the stupid party for not blocking it.

[Weird Tolkienish Figure]

Sometimes I wonder if Nixon is really to blame for all of this, including America's decline. Maybe that and the 1965 immigration bill/60's in general.

I'm talking about taking the US off the gold standard. I don't know, i wasn't alive back then I guess. America was basically in decline my whole life though, at least after I became "politically aware".

[roamer_1]

In a perfect world, (If'n I had my druthers), the Federal Government would be cut by about 90%. Whole departments closed. I don't expect to get much of that if any this go-round. At that point it becomes a question of which parts of it are going to expand? Under Harris, (not that there are any right parts, really) all the wrong parts will grow, get the money, and be used against us.

I hate to tell you pal, go look at the budgets passed under Tumpy last time around... With his sig... All that liberal crap got bigger, not smaller.

So, to me, the choice is between someone who has vowed in the past to make a total trainwreck out of the country, along the current path, just harder, more Obama transformation, or-someone who likely isn't going to make such an absolute balls-up mess of everything. I really do not like the direction that this country is headed currently, from stolen elections, corruption, the whole antigun thing, raising taxes on money you haven't made yet (if you ever do), and letting in and giving citizenship to some up to 20 million illegals, just for a warmup. The 'Green New Deal' is the icing on that cake.

That's so bad I have to (as in feel morally obligated to) vote against that, and hope whatever money we don't have gets spent better under the other guy.

Consider, most of my life I have voted against a candidate, not for one, and it's SSDD. In reality I could withhold my vote and it would make no difference for the electoral college. ND will go GOP, anyway, but I want to push the total higher on the popular vote side, just to make the steal a little harder.

A fallacy, and one I know to be true fallacy.
You vote against nothing. There is no 'vote against'.
Your vote is an endorsement and that is al it can ever be.

 I ain't kickin you now... But the idea holds no water.

So what you ARE DOING... Is voting FOR all the things you detest (and I know you detest them) and approving them on the right - You do nothing to the Democrats.

[Weird Tolkienish Figure]

I hate to tell you pal, go look at the budgets passed under Tumpy last time around... With his sig... All that liberal crap got bigger, not smaller.

True not just for Trump though. All the GOP Presidents since Reagan .

[roamer_1]

Covid was a one-off in our country's history.  Printing up $2 trillion per year to help Democrats get elected is not.  It is the new normal, proving that the Republicans are indeed the stupid party for not blocking it.

Alright... But what a one-off that was.
I will not reward that with a second term.
Not one chance in hell.

[roamer_1]

True not just for Trump though. All the GOP Presidents since Reagan .

Fact. Except for the 94 Congress and the TEA Party (I realize you said presidents) - That is the right direction, and the Right direction. Give me that and I will be with you with all four feet.

And I only voted for the Bushes after Reagan, and Dubya's second only by a hair, and that with extreme prejudice, only for the war... And I have repented greatly of that vote.

I have not voted for a Republican since. All were big government, to include the current one.
I will stand against it.

You can have me back when y'all lift up a Conservative.

[Hoodat]

Look at the 2022 off-year election for the US Senate seat in Georgia.  During the primaries, 62% of voters chose a Republican ballot over a Democrat one.  With at least two solid candidates, the 'voters' picked the one GOP candidate who did not show up for any of the debates.

Of course when the general election came, that 62-38 GOP advantage disappeared.  The GOP chose to put up a political novice with zero political experience for a 6-year US Senate race against a two-year incumbent who had amassed a $120 million campaign chest.  That's $120 million in only two years by a Senator who had not yet earned any political points to trade.

So how did Warnock get all that money?  Well it's quite easy when your party has printed up $5 trillion in new government money over the previous two years and dispersed that money through hundreds of government programs into the pockets of those who turn around and send a cut back to Democrat campaign operatives.

So not only do Republicans allow Democrats to print up government money to spend how they like to enrich their campaign funds, they also let the Democrats pick their candidates for them by picking the populists that the Democrat media makes popular.