05-01-2013, 03:59 PM
5 Urgent Questions for 2013
Author: Money and Markets - Martin Weiss
No matter what Washington did at the 11th hour, we ended the year with one, absolutely indisputable, conclusion:
The mammoth U.S. debt monster is not going away. It’s continuing to grow. And in early 2013, it will return to haunt the White House, Congress and the Fed in a great, new debt ceiling debate!
Here are the hard facts:
1. The U.S. government and its agencies still owe $18.8 trillion just in interest-bearing debts!
2. American families still owe $13.1 trillion on their mortgages, with a huge chunk of those under water.
3. Other borrowers in the U.S. (corporations, local governments, and individuals) owe an additional $23.3 trillion.
These are, by far, the greatest debts in the history of the world. But it doesn’t end there …
4. The U.S. government has obligations of AT LEAST another $150 trillion to present and future recipients of Social Security, Medicare and other benefits.
5. U.S. banks are clinging to a giant mountain of $222 trillion in derivatives, also a form of debt.
Grand total of debts and other financial obligations: $427 trillion!
http://www.yolohub.com/economy/5-urgent ... s-for-2013
Author: Money and Markets - Martin Weiss
No matter what Washington did at the 11th hour, we ended the year with one, absolutely indisputable, conclusion:
The mammoth U.S. debt monster is not going away. It’s continuing to grow. And in early 2013, it will return to haunt the White House, Congress and the Fed in a great, new debt ceiling debate!
Here are the hard facts:
1. The U.S. government and its agencies still owe $18.8 trillion just in interest-bearing debts!
2. American families still owe $13.1 trillion on their mortgages, with a huge chunk of those under water.
3. Other borrowers in the U.S. (corporations, local governments, and individuals) owe an additional $23.3 trillion.
These are, by far, the greatest debts in the history of the world. But it doesn’t end there …
4. The U.S. government has obligations of AT LEAST another $150 trillion to present and future recipients of Social Security, Medicare and other benefits.
5. U.S. banks are clinging to a giant mountain of $222 trillion in derivatives, also a form of debt.
Grand total of debts and other financial obligations: $427 trillion!
http://www.yolohub.com/economy/5-urgent ... s-for-2013
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.