…The United States government has now officially accumulated $19 trillion in debt…but most of the mainstream new sources that have printed this news still aren’t sounding the alarm. [After all] what’s another $1 trillion in debt when the government can just keep printing?…The government owes most of this debt to you [though]….and once the national government is eventually pushed to default, you’re going to be the one on the hook for it.
Check out this interactive infographic to see for yourself how this all breaks down.
[The original article as written by Simon Black (sovereignman.com) is presented here by the editorial team of munKNEE.com (Your Key to Making Money!) and the FREE Market Intelligence Report newsletter (see sample here – sign up in the top right corner) in an edited ([ ]) and abridged (…) format to provide you with a fast and easy read.]Related Articles from the munKNEE Vault:
1. Debt Clocks of the U.S., U.K., Canada, Australia & the World
A BIS study released in June 2012 warns that budgets of most advanced economies, excluding interest payments, “would need 20 consecutive years of surpluses exceeding 2 per cent of gross domestic product – starting now – just to bring the debt-to-GDP ratio back to its pre-crisis level”.
2. How Likely Is the Fed to Go Bust & What Would it Mean For YOU?
At this point, thanks to a long-standing policy of wanton money printing, the Fed has more liabilities than ever before in its history – by an enormous margin – and this precarious balance sheet is dangerous, because if the Fed goes bust, everyone loses [- including YOU. Let me explain why that is the case]. Words: 398
3. Debt Clock Updates By Country: How Much Does Your Country Owe?
http://www.usdebtclock.org/ keeps running real time totals of estimated U.S. national debts and assets. Take a look! Links to debt clocks of other countries provided too.
4. Which Countries Have the Most Debt? Here’s a Ranking
Even if all federal tax revenue was applied to pay down U.S. sovereign debt, it would take 10 years (not including any interest) to do so! This infographic shows how other countries like Canada, UK, Australia and Germany, among others, rank in comparison.
5. World Debt ($59.7 Trillion) By Country
Today’s infographic visualization breaks down $59.7 trillion of world debt by country, as well as highlighting each country’s debt-to-GDP ratio using colour.
6. These 23 Countries (+ Greece) Are Also Facing a Full-blown Debt Crisis
An unprecedented global debt bomb threatens to explode at any moment. 24 nations are currently facing a full-blown debt crisis, and there are 14 more that are rapidly heading toward one. The only “solution” under our current system is to kick the can down the road for as long as we can until this colossal debt pyramid finally collapses in upon itself and when it does it will be unlike anything that we have ever seen before.
7. U.S. in Terminal Phase of Unprecedented Debt Spiral
9. Attention America! Your Surging Debt Will Eventually Suffocate You
For a couple of years the world’s central banks fooled the public into believing that perpetual debt was a good way to rejuvenate the markets but, alas, there will be no free lunch. Having a system addicted to perpetual debt is NOT a solution as the following 9 indicators clearly suggest. Again, nothing comes for free in this world.
11. You Should Be Terrified! U.S. Is In A Debt Trap & Oblivious to the Consequences
There exists in the Congress, in the Obama administration, in the media and on Wall Street, a national belief that America can print paper money and grow its economy as its route map out of debt. With annual GDP growth expectations of 2% to 3% over the next several years, this is a completely false hope!
12. MoneyFactory.gov Records How Much Monopoly Money Fed Prints – Check It Out
I would bet my bottom Silver Dollar that when faith in holding U.S. Federal Reserve Notes heads into the toilet, it would be much wiser to own REAL MONEY than the monopoly paper printed by the MoneyFactory.gov.
13. There’s debt, Then There’s Debt, Then There’s U.S. DEBT
The next time someone says, “The US is the richest country on Earth” correct them and state that “The U.S. is the most bankrupt and indebted country in the history of the world” because that’s reality. Let me explain.
14. Crushing Debt Cannot – & Will Not – Be Repaid! Here’s Why
The central bankers of the world have painted themselves into corner. Growing mountain of debt makes it harder for economies to grow at higher interest rates, hence forcing central banks into a downward spiral of record low rates and monetary stimulus that simply encourages more borrowing and worsening the underlying problem – what the BIS calls “a debt trap”.
15. World’s Biggest Debtor & Creditor Economies: Where Does Your Country Rank?
In absolute size of net foreign liabilities the U.S. leads the way but, as a share of GDP, its position is much less than that of Spain & Poland who exceed the acceptable level of 60%. Where does your country rank?
16. Which of These 6 Actions Will U.S. Gov’t Take to Resolve Country’s Debt Problems?
The U.S. is in a financial debt spiral. What’s the Administration to do? This article analyzes 6 alternative courses of action available, presents the consensus view of each, comes to a conclusion as to what will unfold and suggests what the implications are for one’s investment portfolio. Let’s take a look.