It's Official....... US Debt-To-GDP Passes 100%
Kirk @ Fri Dec 23, 2011 3:57 pm
$1:
With precisely one year left for the world and all of its inhabitants, at least according to the Mayans, not to mention on the day of the Winter Solstice, it is only fitting that US debt, net of all settlements for all already completed bond auctions, is now at precisely $15,182,756,264,288.80. Why is this relevant? Because the latest annualized US GDP, according to the BEA, was $15,180,900,000.00. Which means that, as of today, total US debt to GDP is 100.012%. Congratulations America: you are now in the triple digit "debt to GDP" club!
So what do you think is in store for the U.S. in 2012....and for that matter...Canada?
BartSimpson @ Fri Dec 23, 2011 4:27 pm
It's actually far worse.
http://www.unelected.org/audit-of-the-f ... t-bailouts
Add the 15.2 trillion to the $16 trillion and you get $31.2 trillion in actual debt for a debt to GDP ratio of...wait for it...205.52%!!!!!!
We manage to make GREECE look good!!!
The only thing holding back the collapse for right now is that the major markets don't want to acknowledge the fact that the USA is bust.
Strutz @ Fri Dec 23, 2011 6:15 pm
BartSimpson BartSimpson:
The only thing holding back the collapse for right now is that the major markets don't want to acknowledge the fact that the USA is bust.
And what will happen if they do acknowledge it?
Lemmy @ Fri Dec 23, 2011 6:58 pm
Strutz Strutz:
And what will happen if they do acknowledge it?
There will be a lot of pissed off Chinese. Once one country defaults on its obligations, all other debtor nations will follow. The entire world's debt will be wiped out in one fell swoop and we start over from scratch.
saturn_656 @ Fri Dec 23, 2011 7:06 pm
$1:
Add the 15.2 trillion to the $16 trillion and you get $31.2 trillion in actual debt for a debt to GDP ratio of...wait for it...205.52%!!!!!!
According to the IMF figures, only Japan has a higher percentage. 234%.
Public_Domain @ Fri Dec 23, 2011 7:21 pm
Brenda @ Tue May 22, 2012 9:23 pm
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