Federal Reserve Admits U.S. Government Is Bankrupt

Does anyone here TRADE? Christ if you think the Treasury is "bankrupt" then short Treasuries. I'm short 'em and I can assure you there's no shortage of eager buyers and they ain't all Chinese.
 
Quote from bidask:



also, as long as the u.s. has the most powerful military in the world, none of those countries will do anything drastic. they may send a "message" from time to time, but they won't dare to really mess with the u.s., otherwise that country will suddenly find themselves to be harboring terrorists and is a threat to national security. get it?
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No I do not get it.

Saudi Arabia supplied 14 of the nominated 19 sept 11 "terrorists" and is a major US creditor in dollar holdings and below ground reserves.

You will have to explain your point of view to me because I do not "get it"
 
Quote from Random.Capital:

Two big differences. First, Canada's budget has been running a surplus for a long time, and that allows for a hell of a lot more flexibility in handling the legacy debt. The US is increasing its debt load, which comes with a loss of flexibility and control.

Second, the Canadian budget does not have the kinds of off-the-books liabilities that are (for now) excluded from the US calculation you present above. One of these liabilities is coming home to roost as we speak - namely the implied guarantee of the GSEs. So the US number is highly skewed to the downside - by how much is not clear - estimates on the "real" debt range anywhere from 100% more than the current number to 1000% more than the current number.

Using the lowest of the estimates puts debt-to-GPD at 120%. That...is not low.
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Quote your source on where all this "Hidden" debt is.

I dont care how smart you think they are, but nobody can hide an extra 8 trillion dollars of debt (much less an extra 80 trillion) without it being completely obvious.

Thats basically saying that the government owes more money than the value of every house in the united states and is able to keep it hidden.

I think some joker probably told you your information and you took it as the truth.
 
Quote from jjf:

No I do not get it.

Saudi Arabia supplied 14 of the nominated 19 sept 11 "terrorists" and is a major US creditor in dollar holdings and below ground reserves.

You will have to explain your point of view to me because I do not "get it"
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"Supplied"? If Tim McVeigh had blown up the Eiffel Tower would you say the U.S. "supplied" McViegh to France? The Saudi's are a TARGET of Al queda not an accomplice. Just because a terrorist is from a country doesn't make him a product of the government.

Back to the thread at hand. Even if the "world" sold their Treasury holdings yields wouldn't move up anything more than a token amount. I have friends with MILLIONS who are waiting buyers at higher yields.
 
Quote from Pa(b)st Prime:

"Supplied"? If Tim McVeigh had blown up the Eiffel Tower would you say the U.S. "supplied" McViegh to France? The Saudi's are a TARGET of Al queda not an accomplice. Just because a terrorist is from a country doesn't make him a product of the government.

Back to the thread at hand. Even if the "world" sold their Treasury holdings yields wouldn't move up anything more than a token amount. I have friends with MILLIONS who are waiting buyers at higher yields.
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Try and catch Hannity's interview with Palin tonight on Fox.

I think that her rationale will be right up your street.

I have just seen a couple of minutes of it and I know that you will love it.
 
Quote from Pa(b)st Prime:

"Supplied"? If Tim McVeigh had blown up the Eiffel Tower would you say the U.S. "supplied" McViegh to France? The Saudi's are a TARGET of Al queda not an accomplice. Just because a terrorist is from a country doesn't make him a product of the government.

Back to the thread at hand. Even if the "world" sold their Treasury holdings yields wouldn't move up anything more than a token amount. I have friends with MILLIONS who are waiting buyers at higher yields.
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Pabst..
I don't think we need to worry about the folks around the world SELLING...first we have to worry about them NOT buying..
Correct that they are buying hand over fist..
But that will come to an end soon..
once they realize that we can't afford to pay them back..

Yeah yeah, I know we never have defaulted, name another issue in history that has never defaulted...etc..

But this time it's different (hehe..I hate saying that)..
 
G_d, Hannity and O'Reilly and Limbaugh...

WTF actually listens and gives credibility to anything these ginormous assholes say?

Pathetic.
 
Quote from jjf:

Try and catch Hannity's interview with Palin tonight on Fox.

I think that her rationale will be right up your street.

I have just seen a couple of minutes of it and I know that you will love it.
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My McCain vote is 50% anti-Obama and 50% pro-Sarah.
 
Quote from peilthetraveler:

Quote your source on where all this "Hidden" debt is.
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It's not "hidden", it's not a "secret", it's just off the books. Everybody knows it's there, it's just not counted as part of the official debt number. It's not a conspiracy, it's accounting. :)

The poster child for this is Social Security, for which the accounting was completely changed during the Reagan administration (not a partisan jibe, the Dem congress was more than happy to go along as it meant spending could rise without the official deficit numbers increasing).
 
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