With US debt, two clocks are ticking

With US debt, two clocks are ticking

www.csmonitor.com

This week the US debt clock turned over and reached a new record: $13 trillion. That's too high – and one reason it's too high is that another clock is ticking.
America is getting older.

Cutting debt is hard enough. Cutting it when the demographic clock is running against you is much, much harder. That's the conclusion of a sobering March report from the Bank for International Settlements (BIS).

"Drastic measures are necessary to check the rapid growth of current and future liabilities

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The globalist elite banks spearheaded by the unconstitutional Federal Reserve and Wall Street have spiraled the American economy out of control down the crapper and burdening the country with 13 trillion dollars of unrepayable fiat debt, from money printed out of thin air.

Can you believe that? $13 trillion! That's nearly the whole of America's GDP.

Time will tell when the debt to GDP ratio exceeds 100%.

www.csmonitor.com
(visit the link for the full news article)

That is so depressing. How the hell are we supposed to get out of this? Not even just the US...EVERYONE. This is such a huge crisis. Im normally not a doom-and-gloomer, except when it comes to the economy. I honestly don't see us fixing these problems without forceful, draconian control of people who don't feel they should have to pay for this. Either that or it is simply going to crash completely.
In short...
UGH!

I can envision a movement, not unlike the tea party, claiming that it's the governments issue and not theirs...


Interesting...

reply to post by mooseinhisglory

That is so depressing. How the hell are we supposed to get out of this?

You're not supposed to. You're just supposed to be a debt slave. FOREVER. AND YOUR KIDS TOO... if you are allowed to have kids.

BTW, this is happening in Canada too, within 5 years, more than half of the population will be older than 65! Good luck funding those pensions! Canada will be worse than Greece.


So EVEN if you believe the lie that the economy has recovered, FORGET IT. WE ARE SCREWED.

[edit on 28-5-2010 by Vitchilo]

The only "hope" is virtual reality, chemical means, neuro-implants, or some other form of mental alteration that makes old people believe they are young and healthy and enjoying life when in reality they are old, feeble, abandoned, and strapped to a gurney in some horrifically overcrowded, crumbling old-folks home.

For those of you who think I'm being facetious, I'm not -- I'm deadly serious. I truly think this is the avenue that will eventually be explored. They will have some kind of electrodes, chemicals, implant, or what have you that totally takes you out of your mind in one way or another. Perhaps today's teens will relive nostalgic virtual-reality versions of "Avatar" in their head where they swing through the jungles of Pandora on vines while their bodies rot in reality.

reply to post by ironfalcon


From the Source:

Cutting debt is hard enough. Cutting it when the demographic clock is running against you is much, much harder.

I'm not for opening the border but that is one way to solve the problem. I'm in good company because that seems to be the way the last several presidents come down on the border issue. Ie. don't enforce border laws and allow the illegals free entry and in terms of policy talk about amnesty.

Obama is all against Arizona 1070. Ever wonder why? Not that Obama is all that sharp but TPTB apparently are in control on this issue. Why else would Obama and Bush both do such an unpopular thing as keep the borders open?

It all comes down to Demography. Without immigration, we are a dieing society. Actually, first world nations like Russia, and the European nations are in much worse condition demographically. By 2050 very few nations will have expanding populations. But that is something our kids will be dealing with!

The sum on the economy don't add up and before you sign up to letting more immigrants in you need to ensure your own youth all have jobs first

Thats not the case in the UK or the USA just yet but we do have a shortage of people that will work for $2 an hour and this is they type of labour the corporations want and they also want the amro and the personal carbon tax that goes with it.

Our casiono owners have everyone drunk and will take the sirts off your back if you let them so start slowly moving towards the exit like China is doing with all the US debt it holds which is going to send a lot of $USD back home

debt and bankers are 2 evil words
in my dictionary.

These b@stards have no conscience
on what they will do to the American
populace.

I wanna share a story:

3 years ago I got a letter in the mail
and it said that I had been approved
for a Capital One credit card. All I had
to do was fill out the enclosed application
and I was pre-approved. There was a $300.00
limit on that card (remember that amount for later).

There was a 14% rate on the card (remember that number for later)

Within 6 months I had maxed out the card at $300.00,
then my rate jumped to 28%, doubled what it was
previously. I was making $40.00 a month payments
on a $28.00 monthly minimum. Then when the rate
jacked my minimum payment to $56.00 a month.
I refused to pay it cuz it was a bait and switch.

3 years and countless collection agencies later,
today I get a debt settlement offer on that same
Capital One credit Card that had a $300.00 limit
that said I owed them over $900.00 and that they
would settle the debt with me for $450.00.

So even after this offer I still would have to
pay them $150.00 more than what the original
limit was on the card. So they are still making
a profit even at the settlement offer.

I guess they're assuming that I give a $h!+
about what my credit report says.

In the midst of all the bank bailouts, CEO's
bonuses, corporate fraud, they STILL want to
make money off of me.

THEY broke the contract with me by not honoring
their original percentage offered. So as far as I'm
concerned they can kiss my @$$. They are NOT
getting another dime out of me.

Sorry for the rant

Capital One

I am really curious how this will end. There is absolutely no way for any state to cut costs or raise income enough so they can actually pay back debt. The absolut best scenario is no new debt, and even that is unrealistic.

The Economy is a ticking time bomb, and everyone knows it. Though very few dare to speak of it because it is a very inconvenient truth.

The question is not IF the economy will collapse , it is WHEN it will collapse and in what way. The best thing would be to simply erase the national debt and start over again. But that will not happen because the fed will want to milk this cow as long as it gets. And I am sure they have the majority of its capital invested in stable currencies or in property and NOT in dollars or euros.