I know you've probably seen webpages like this before, but this one is good:
It shows the US debt, US assets, US mortgage debt, corporate assets, world debt:GDP rankings (Japan is the best of the worst lol).
Also it shows US "Total Personal Debt", which is the only good news here - Americans are finally paying off all their credit cards and student loans and crap debt. When people stop buying and start paying down their debt the governments and businesses can't make as much money. Poor bastards lol.
One interesting part is the total invested in "Currency and Credit Derivatives" - about $622 trillion as of this writing. Puts things in perspective. If we could put a five percent tax on that money we could pay off all debt in the US in a year or two, and then direct that income stream towards our unfunded liabilities, like Social Security.
It's interesting that US Defense spending (~$681 billion) is about 0.1% (1/1000th) of the derivatives market. So we could easily increase our defense budget by a factor of ten or a hundred if we really needed to.
3 replies to this topic
Posted 14 September 2010 - 03:26 PM
Great damn post Phan. Thanks for sharing the find.
Posted 15 September 2010 - 11:09 AM
Very interesting site, great post.
Posted 15 September 2010 - 08:32 PM
nice post phantasm. interesting site.
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