Marc Faber : The US National debt is already 600% of the GDP

Marc Faber : The US National debt is already 600% of the GDP

marcfaberchannel.blogspot.com...

"According to my calculations it is impossible that the American government can fulfill its obligations because the current deficit is over one trillion , this year 1.6 trillion , And that will not come under one trillion and that increase the national debt .The Total debt is already 375% of the GDP , but that does not still include the not yet covered debts of medicaid medicare and social security, if you would include it then the national debt is already 600% of the GDP , So they have to massively print money in the future that will lead to an inflation and recession in the same time , so they might get into a depression and synchronized an inflation as they have in Zimbabwe , The result will be that they will intervene in a war - and the americans are good in finding enemies around the world , That will end in a big conflict and the whole system will collapse" This scenario won't happen tomorrow but in the next 5-10 years guaranteed Marc Faber added

he aint the only one saying so either... its downright spooky how much news is out there that say these very things. and yet you dont hear any of it on the MSM... bunch of puppet douchebags...

How does he do his maths?

I mean...

Current FEDERAL GOVERNMENT DEBT : about 89.2% of GDP. Will reach 100% around november 2010.

Then if you add state debt and municipalities debt... that's 111% of GDP.

So his first 375% number is wrong IMO... but maybe he adds up the 30 + trillion bank bailout... then it would make sense.

Then it would be federal debt + state debt + municipalities debt + 30 trillion bank bailout = around 322%... but the bank bailout is probably higher than that and growing at about 2 trillion/month.

Not to mention the derivatives, which is in the hundreds of trillions.

Then you add medicare and medicaid... and yeah... I arrive at around 1083%... if you don't count the derivatives.

Congress has been borrowing from Social Security & leaving IOU s in its place. This year Social Security becomes a real line item in the budget because Congress has to pay for it now. Congress has been doing this off book borrowing for years with all sorts of funds. Give a Congressman a pocket & he'll have a hand in it. Our retirement is next along with higher taxes.
Don't vote for a politician this year unless you want more of the same.

In other words since the economy didn't fail because of the housing market collapse, they stuck 10,000 fingers in the dike to keep it from collapsing totally. Its still coming just more slowly and because of reasons the media will feed to you that will seem legitimate. I say let it come, let it come now bastards, I'm ready for armageddon! They don't wanna pay for what they have done, they know they will recieve no mercy if they admit it. Keep sticking your made up fingers into the dike thats leaking, I'm not believing it. I'm ready when you are. Are you ready to stand before God and give an account?