Total U.S. Debt as a % of GDP

[hessian]

Hoping the we can get a vigous chat going related to topic and initial article. It may be the biggest dertiminant factor the we all wii face in comng months & years.
One Economic Chart That You Should Permanently Burn Into Your Memory

As you can see from the chart below, the total of all debt (government, business and consumer) is now somewhere in the neighborhood of 360 percent of GDP. Never before has the United States faced a debt bubble of this magnitude....

​

And the article goes on to talk more about this 'debt bubble' that we are unfortunately apart of...

Most of us were not alive during the Great Depression, but those who were remember how incredibly painful it was for America to deleverage and bring the economic system back into some type of balance.

So if our current debt bubble is far worse, what kind of economic horror is ahead for us?

But the truth is that we are facing some circumstances that even the folks back during the Great Depression did not have to deal with....




Source (I saw this was posted in breaking alternative news which isn't even the right area, but also it did not have the actual source, this is the origin of it)

I have to say this article explains fairly well what situation we're in currently, although I may even say it's worse than the author is saying.

We are having the MSM tell the masses that the economy is improving somewhat, while in reality it is not; it's actually getting worse. While we have the FED printing more and more money and selling it to us for more than it is worth (which is nothing other than the paper it's printed on and the ink that is on the actual paper), most American's truly believe that the economical hardship is over with and will turn around completely before they know it... well open your eyes and take a look - things are not getting better.

Just because the government/banksters bails out certain companies which whom they have connections with does not mean they are going to bailout the common man when they are having trouble. American's are losing their jobs, their homes, and every single item they own. Who is going to pay them back and help their families out this winter? The US government?

[more...] :worried:
http://www.abovetopsecret.com/forum/thread596984/pg1

MOD NOTE: Posting work written by others

[edit on Sun Jul 25 2010 by DontTreadOnMe]

 

[hessian]

Oh, They DO Intend To Steal From You

And what's better, now the lapdogs of Wall Street are immune from FOIA requests!

The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from "surveillance, risk assessments, or other regulatory and oversight activities." Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.
That argument comes despite the President saying that one of the cornerstones of the sweeping new legislation was more transparent financial markets. Indeed, in touting the new law, Obama specifically said it would “increase transparency in financial dealings."
​

Mr. President, you're a lying sack of crap.
Nor is this theoretical either. Fox News has already had an FOIA denied:

The SEC cited the new law Tuesday in a FOIA action brought by FOX Business Network.
​

Nice.
Oh, by the way, this would mean that a Madoff or Stanford "thing" would leave the SEC immune from FOIA requests by the Press (including the "mainstream" along with media folks like myself) to discover whether they had effective and early notice that they intentionally ignored.
Isn't that convenient, given that they did exactly that with Madoff and, it can be argued, Stanford as well?
Indeed, the SEC, The Fed, and Treasury have all tried to refuse compliance with FOIA requests into the backstories of the financial meltdown.
FOIA requests that could (and in some cases have, when they were forced to be complied with via lawsuits) reveal double-dealing, "sweetheart" treatment, and even willful blindness that, in many people's opinion (including mine) reaches the level of intentional collusion that, in a private context, would lead to civil and/or criminal racketeering charges.
To President Obama and CONgress for sticking this in FinReg (and yeah, I missed it, even though I read the entire damn thing):

 

[malyla]

THEY don't want us to see how the next equities bubble will be constructed :laugh::worried:

 

[Frixxxx]

THEY don't want us to see how the next equities bubble will be constructed :laugh::worried:

Malyla,

I think I now know why I like you so much.......You cut to the chase!

 

[alevin]

I've been watching graphs like that for many months now. As Karl says, it's not a matter of "if", it's a matter of "when" at this point. I saw an article early this morning that said we won't get back to pre-recession jobs level until about 2022. somehow I believe it, due to graphs like the above. wish I didn't. but I do. glad I have GD1 stories from family to prepare me mentally.

 

[hessian]

Update on this "GDP watch...

Friday, July 30. 2010
Posted by Karl Denninger in Editorial at 14:23
Good God: Revisions To Chart (Ponzi Ponzi Ponzi!)

The revisions to GDP published this morning have turned to disgustingly nasty one of my favorite charts. Specifically, this one:

View attachment 9795

You've all seen this a dozen times. Well, here's what it looks like with the revised GDP numbers "corrected" in the Excel file:


View attachment 9796

"Holy Sheeit" doesn't even begin to describe this.
These are not small changes, but they also mark the desperation of our government to avoid recognition of even a tiny, 2% annualized decrease in GDP!
That's right folks - "as-reported", the maximum y/o/y "depression" that garnered the title "Great Recession" was a minuscule 2% decrease in REPORTED nominal GDP.
But look at the policy response. Oh, and that last dot - it's estimated, based on the 2Q preliminary GDP numbers (which are almost-certainly too "hot" and the debt numbers (almost-certainly too "cold".)
In addition the revisions make clear that there was in fact a zero real growth rate in 2006! There was your warning.... and likely why we had the nice little dump in the market starting in the early part of 2007.
(Revisions only go back to the e/o/y 2006 numbers.)
If you look to the 2003-2007 period for a clue as to how our government will respond, you're in for a stunner - there will be no material decrease in deficits while economic "recovery" on a nominal scale will be unlikely to go beyond 4% on a reported basis.
At this rate we're gonna be Greece - and sooner than you think.
Ponzi Ponzi Ponzi!

 

[jimijr]

"American's are losing their jobs, their homes, and every single item they own. Who is going to pay them back and help their families out this winter?"

This happened to me in 1984 due to a divorce. One day I was a family man and home owner, the next I was living in the YMCA. No one paid me back or helped me out in any way, but then, I never asked for it. It took many years of hard work to get it together; in six months I will begin a healthy retirement.

Should we argue by extension, to the nation?