America IS Bust! (Bloody good read)

[Mega]

http://www.thedailycrux.com/content/...Stansberry/eml

Mike

[LargoWinch]

Re: America IS Bust! (Bloody good read)

http://www.thedailycrux.com/content/...Stansberry/eml

Mike

Well, how about 12 Trillion eggs?

November 22, 2009
Our national debt: How much would 12 trillion eggs weigh?

Lee DeCovnick

The Federal Government’s tidal wave of debt now exceeds $12 trillion dollars. We have plummeted an additional trillion dollars in the last 8 months.


Twelve trillion is twelve followed by 12 zeros: 12,000,000,000,000 or 12 x 10¹² . 12 trillion eggs would weigh just over 13 million tons or the weight of 19 supertankers. That works out to 149 dozen eggs for each of the 6.6 billion humans on this planet. 12 trillion gallons of milk could easily fill Lake Superior almost four times over.


Twelve trillion is so vast a super number that only astrophysicists and molecular geneticistsshould be allowed to calculate with it, not the bureaucrats in Washington. In 2008, twelve trillion is equal to the combined output (GDP) of China, Japan and the UK. The total GDP of the United States in the third quarter of 2009 was $14.3 trillion.


Every day, each of our 1.9 million, non-military, Federal employees are happily administering the distribution of this debt to the tune of $2,995.

Each American household’s share of this debt is $103,000. Does anyone honestly foresee our taxes being raised enough to pay off this massive deficit?

...
Full article here.

[Fiat Currency]

Re: America IS Bust! (Bloody good read)

Mega,

The basis for that article is Porter Stansberry's newsletter - which I posted in the Select Forum here - if you want to read the whole thing.

[Mega]

Re: America IS Bust! (Bloody good read)

Hi Fiat

Am NOT a "Full member"...........thus didn't KNOW you posted mate.
Mike

[Slimprofits]

Re: America IS Bust! (Bloody good read)

Hi Fiat

Am NOT a "Full member"...........thus didn't KNOW you posted mate.
Mike

You're not?

Mega
iTulip Select Premium Member

[icm63]

Re: America IS Bust! (Bloody good read)

WRONG....

TRUE - USA does have $12 trillion of debt.

FALSE - USA IS NOT BUST

WHY: USA HAS ASSETS TO SELL
- National parks
- Oil fields
- State assets
- State Business could be listed on stock exchange and sold
- Lease out fishing rights within 200 mile ocean zone
- Rent out NASA
- Lease your Aircraft Carriers as holiday ships
- etc

In the 1980s, we had the same situation in New Zealand, to pay off the Govt debt every thing was sold, or IPOed.. that same that Russia did etc..

USA is not bust, just a little insolvent...

[Starving Steve]

Re: America IS Bust! (Bloody good read)

http://www.thedailycrux.com/content/...Stansberry/eml

Mike

The U.S. (and all other nations) have a faith-based currency. So long as people have faith, the most outrageous economics is possible. And if the U.S. goes down the drain, all the other nations go with it, so that is a most unlikely outcome.

The U.S. also has trillions in assets, including the federal lands in the Western states. There are ways to keep the faith going. Plus the U.S. has the H-bomb, so for the forseeable future 2 + 2 = 229.635 if the Federal Reserve says so.

Anyone who doubts the power of faith need only spend a few days in the American South. Talk about zombies! And the people have nothing between their ears but faith--- which kind of explains how America got into this mess in the first place.

[Fiat Currency]

Re: America IS Bust! (Bloody good read)

So long as people have faith, the most outrageous economics is possible.

"Scepticism is the beginning of Faith" - Oscar Wilde ;)

[hayekvindicated]

Re: America IS Bust! (Bloody good read)

The U.S. (and all other nations) have a faith-based currency. So long as people have faith, the most outrageous economics is possible. And if the U.S. goes down the drain, all the other nations go with it, so that is a most unlikely outcome.

The U.S. also has trillions in assets, including the federal lands in the Western states. There are ways to keep the faith going. Plus the U.S. has the H-bomb, so for the forseeable future 2 + 2 = 229.635 if the Federal Reserve says so.

Anyone who doubts the power of faith need only spend a few days in the American South. Talk about zombies! And the people have nothing between their ears but faith--- which kind of explains how America got into this mess in the first place.

There are two religions in America - Christianity in the South and liberalism in the rest of the country. ;)

[BadJuju]

Re: America IS Bust! (Bloody good read)

Anyone who doubts the power of faith need only spend a few days in the American South. Talk about zombies! And the people have nothing between their ears but faith--- which kind of explains how America got into this mess in the first place.

You are going to find zombies anywhere.

- Guy from Tennessee

[vinoveri]

Re: America IS Bust! (Bloody good read)

There are two religions in America - Christianity in the South and liberalism in the rest of the country. ;)

Ha Ha - good one.

I believe though that "secularism" or "naturalism" would be a more apt description of the dominant worldview of those parts of the USA exclusive to the south.

[jpatter666]

Re: America IS Bust! (Bloody good read)

Anyone who doubts the power of faith need only spend a few days in the American South. Talk about zombies! And the people have nothing between their ears but faith--- which kind of explains how America got into this mess in the first place.

You have a real gift for ticking people off. Although to take your manifold comments as fact, I'd say you lived in the Deep South.

From here in "Occupied Virginia" ;)

[BadJuju]

Re: America IS Bust! (Bloody good read)

Ha Ha - good one.

I believe though that "secularism" or "naturalism" would be a more apt description of the dominant worldview of those parts of the USA exclusive to the south.

If only naturism happened to be the dominant view.

[rjwjr]

Re: America IS Bust! (Bloody good read)

Quote:

Originally Posted by Starving Steve Anyone who doubts the power of faith need only spend a few days in the American South. Talk about zombies! And the people have nothing between their ears but faith--- which kind of explains how America got into this mess in the first place.

You have a real gift for ticking people off. Although to take your manifold comments as fact, I'd say you lived in the Deep South.

From here in "Occupied Virginia" ;)

Steve,

I intended to respond to your latest idiotic and demeaning generalization with a verbose and intelligent response, but I realized I have spent too much effort and time on your misguided, ill-informed, historically-selective, closed-minded opinions, so I came up with this instead...You are an asshole.

This site is an incredible array of intelligent and insightful participants and I can no longer have you ruin the experience for me. Consider yourself censured, muted, and ignored.

[rjwjr]

Re: America IS Bust! (Bloody good read)

WRONG....

TRUE - USA does have $12 trillion of debt.

FALSE - USA IS NOT BUST

WHY: USA HAS ASSETS TO SELL
- National parks
- Oil fields
- State assets
- State Business could be listed on stock exchange and sold
- Lease out fishing rights within 200 mile ocean zone
- Rent out NASA
- Lease your Aircraft Carriers as holiday ships
- etc

In the 1980s, we had the same situation in New Zealand, to pay off the Govt debt every thing was sold, or IPOed.. that same that Russia did etc..

USA is not bust, just a little insolvent...

You may be right in your analysis, but it doesn't give this American a warm 'n fuzzy feeling about my Country. It reminds me of this little story about Thriftsville vs Squandersville by Warren Buffet that I'm sure most have already seen...

http://www.youtube.com/watch?v=5DvuyvuHmJI