Why is the US Dollar Being Destroyed??

[Marketneutral]

I voted. I complained. Seemingly everyone disagreed with me. (Well, just over 50% disagreed, but about 90% of the people I interact with disagreed.) I'm not sure what else to do except wait for the next election; how else can I constructively not tolerate it? Yet even with all that's wrong now I don't have a lot of hope for the next presidential term. Then again maybe next year's congressional election will reflect some dissatisfaction and influence the presidential race.

As long as the stock market is going up and housing prices keep appreciating - no one cares.

 

[Marshac]

Current Debt as of 12/14/2005
Debt Held by the Public:  4,764,354,533,340.54
Intragov-mental holdings:  3,367,631,403,271.99
Total:  8,131,985,936,612.53

The current debt limit is $8.184T, which was just raised by $800B only about a month ago. With this kind of burn rate, perhaps we should be the U.S.A.com

Fun fact- under G.W. Bush, the debt limit has been increased 3 times...


Edit: I like charts and numbers...


Year     Debt (T)  % Increase
9/30/2005 $7.93 7.50%
9/30/2004 $7.38 8.78%
9/30/2003 $6.78 8.91%
9/30/2002 $6.23 7.25%
9/28/2001 $5.81 2.35%
9/28/2000 $5.67 0.32%
9/30/1999 $5.66 2.35%
9/30/1998 $5.53 2.09%
9/30/1997 $5.41


Edit #2 -- Adjusted the debt for inflation using CPI information... all amounts below are 1997 dollars


9/30/2005 6.54
9/30/2004 6.26
9/30/2003 5.91
9/30/2002 5.55
9/28/2001 5.26
9/28/2000 5.28
9/30/1999 5.44
9/30/1998 5.44
9/30/1997 5.41


And a chart showing the debt in absolute dollars...

 

[HFWR]

Looks innocuous enough, until you consider that 3/8" space = 1T...

 

[Nords]

Looks innocuous enough, until you consider that 3/8" space = 1T...

A trillion here, a trillion there...

 

[Lancelot]

I've enjoyed reading this thread; I'm concerned about our ongoing, long term debt and unfunded liabilities too.

Usually when I mention it to friends, either their eyes glaze over (bored) or they blow it off (debt does not matter)

In the near term, other nations will happily finance our spending spree-we need their oil, garmets, electronic devices and they want our business to grow their export oriented economy. In a financial sense, we're married to each other.

No worries man, just print another trillion $ and rock on!

Lance

PS - After we run the score up to 1,000 Trillion; what is the next demonination?

Quadillion?!?

 

[BigMoneyJim]

PS - After we run the score up to 1,000 Trillion; what is the next demonination?

Quadillion?!?

Quadrillion, I believe. Wonder if I'll hear that used referring to the budget/debt during my lifetime.

 

[sgeeeee]

Quadrillion, I believe. Wonder if I'll hear that used referring to the budget/debt during my lifetime.

Think big, BMJ. Maybe you'll hear that used referring to your own net worth. You already have $100K.

 

[Nords]

Quadrillion, I believe. Wonder if I'll hear that used referring to the budget/debt during my lifetime.

Probably not-- our currency will be denoted in "new yuan"...

 

[BigMoneyJim]

Think big, BMJ. Maybe you'll hear that used referring to your own net worth. You already have $100K.

Unless inflation exceeds my capacity for imagination I would be sure to spend away before hitting a quadrillion! If I become a billionaire it means I was too conservative in my spending. But I hope I have to worry about my portfolio growing beyond my wildest expectations.

Perchick: Money is the world's curse.
Tevye: May God smite me with it! And may I never recover!

 

[Howard]

I remember stopping in Indonesia, giving them a $100US Bill, I got something like 200,000 Pesetas in return, the stack of money was over 6 inches thick, for one $100 Bill.

I felt rich.

 

[MasterBlaster]

When I was in Bali (part of Indonesia) a few years ago, I got just under a million Rupiahs for $100.

The wife and I did have a laugh about holding a million dollars.

 

[ShokWaveRider]

And so we continue to jest.... Ignoring or being complacent about the problem. And it is a BIG problem. Are we so resigned that we think there is nothing we can do to fix the problem? The answer I think is my point.

I personally am kind of sick of whatching America nose dive. The sad part is I have absolutely no idea what any of us can do about it.

We try not to buy oil at inflated prices, thus not fuelling the greed. we resisted buying a home for now (same reason) We concerve energy, we try to buy American but the quality is so poor, we are forced to digress. We invest in American securities......

SWR

 

[MasterBlaster]

And so we continue to jest...

Jeez - Someone needs to lighten up a little.

Yes the trends may not be great for the US dollar and for the US middle-class lifestyle. How can we ever, with our high US expectations, compete with world-class skills and labor from someone who lives in a mud-hut.

But what can little ole' me do about it.

You and I are going to die one day. Yet I'm not going to fret about that every second of my life. So, just maybe I'll tell a few jokes and enjoy the time that I do have.