"It's one of those numbers that's so unbelievable you have to actually think about it for a while... Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And that's not counting any additional deficit spending, which is estimated to be around $1.5 trillion. Put the two numbers together. Then ask yourself, how in the world can the Treasury borrow $3.5 trillion in only one year? That's an amount equal to nearly 30% of our entire GDP. And we're the world's biggest economy... Where will the money come from?"

"...the U.S. Treasury has tried to minimize its interest burden by borrowing for short durations and then "rolling over" the loans when they come due. As they say on Wall Street, "a rolling debt collects no moss." What they mean is, as long as you can extend the debt, you have no problem. Unfortunately, that leads folks to take on ever greater amounts of debt... at ever shorter durations... at ever lower interest rates...."

"...I examined these issues in much greater detail in the most recent issue of my newsletter, Porter Stansberry's Investment Advisory, which we published last Friday. Coincidentally, the New York Times repeated our warnings - nearly word for word - in its paper today. (They didn't mention Greenspan-Guidotti, however... It's a real secret of international speculators.)"

dodadoom wrote:Conflict of interesting, isnt it?
http://www.youtube.com/watch?v=9aCldcgP ... re=related
http://www.youtube.com/watch?v=34DRsn21 ... re=related

Everyone should take the crash course:
http://www.youtube.com/watch?v=caMRBGmj ... re=related

zuzzeebelubah wrote:

Delaine wrote:

zuzzeebelubah wrote:BS...cut all subsidy and entitlement programs and with the current rate of taxation it is possible to pay it off.

Okay- so who do we "get to do that"- and how do we "get them to do it"???

That is the problem, politicians are afraid to do it, even though they know that is the problem...end all handouts to individuals and corporations and see how fast our debt goes away.

Stylez wrote:Yeah maybe if Government quit trying to take care of us and let us run our own lives things wouldn't be so messed up. Most of those entitlement programs are things like Medicare which is much much higher than the defense budget. I suppose we will just have to die a lot sooner or all the money we pay into it is wasted. The ponzi scheme is finally getting to the end of the run. Looks like faking a Government coup is what is needed next

US debt will keep growing even with recovery

For the U.S., the crushing weight of its debt threatens to overwhelm everything the federal government does, even in the short-term, best-case financial scenario — a full recovery and a return to prerecession employment levels.

The government already has made so many promises to so many expanding "mandatory" programs. Just keeping these commitments, without major changes in taxing and spending, will lead to deficits that cannot be sustained.

Take Social Security, Medicare and other benefits. Add in interest payments on a national debt that now exceeds $12.3 trillion. It all will gobble up 80 percent of all federal revenues by 2020, government economists project.

That doesn't leave room for much else. What's left is the entire rest of the government, including military and homeland security spending, which has been protected and nurtured by the White House and Congress, regardless of the party in power.

dodadoom wrote:Delaine, to answer your questions, no. imo
Man cannot and will not get 'er done by himself.
Until he humbles himself and realizes he doesnt (and may never) know everything, will he ever learn anything but more chaos.
We spend too much on war and lose too much to corruption.
You can't regulate morality with a law, but it is often tried, and you can't hand out common sense like it's gubmint cheese.
Seriously, if I ran my household finances like apparently 90% of the US population (and gubbymint) does, I would be scared shirtless. No wonder many are, and not just shirtless.
I see why many bloggers think this country is similar to a casino.
You apparently have to roll the dice, hope for the best and try not to get swept up with all the garbage. Could happen, I have spent time playing music (in casinos) in nevada.
The similarities are surprising, as well mob rules...
Thanks for putting up with my attitude D, I just dont see how the major peep players can run it all into the ground seemingly without any remorse or conscience at all. Or, apparently any sense that anything is even wrong with it, or that this fiat system even needs fixing at all.

dodadoom wrote:Thanks, I try to keep shtf funny!(as best a person could)

You know, you really said some good stuff in these last two posts, I hope people read them and take it to heart! (although purple is hard to read on this monitor)

It is the ones like the peeps here who have the courage, passion, drive, smarts and ideas that may just save the world someday! Could happen.

I don't trust the nincompoop we got conducting this financial train-wreck!

Whose responsibility is it, really, to rectify this - to create a truly viable solution to the "problem"- as to a certain extent, we are all contributing to the perpetuation of this "financial nightmare", granted, some more actively and intentionally than others, but still-we continue to "render unto Ceasar" daily in so many ways....

Guess it just gets back to all we can really do is work with ourselves, and doin' the best we can, and hoping that we can make a difference with that...

Don't ignore it, but don't identify with it either, comes to mind...

zuzzeebelubah wrote:

Delaine wrote:

zuzzeebelubah wrote:BS...cut all subsidy and entitlement programs and with the current rate of taxation it is possible to pay it off.

Okay- so who do we "get to do that"- and how do we "get them to do it"???

That is the problem, politicians are afraid to do it, even though they know that is the problem...end all handouts to individuals and corporations and see how fast our debt goes away.