Debt in Perspective

[imoldernu]

I posted this in another thread, and am sure that many have visited the website, but think that everyone should have a chance to spend some time here, to keep the world of money in perspective.

I would suggest that rather than a 10 second quick look, that it would be worthwhile to spend 5 or ten minutes exploring the scope of the project.
Note that as you mouseover the individual numbers, that a brief explanation appears in the central heading.

Note that in addition to the US Numbers, there are current statistics for other nations (top left of header - world and state debt clocks). Also, go to the links at the bottom of the page for wider views.

Also... to the right of the header, you can click for a direct comparison for years in the past (Time Machine), for the same numbers.

Just for fun, see if you can find the per taxpayer liability for unfunded US debt. And further to see if you can find the Public debt to GDP ratio difference between the US and Mexico.

Yeah... it doesn't affect your portfolio, and your friend or partner won't have any interest, but with twenty to forty years ahead of you, some of this stuff may help make sense of the world of money.

U.S. National Debt Clock : Real Time

Enjoy! (I think)...

 

[Brdofpray]

But it's okay. Obama says it is not something to be concerned with. (oops, too political, sorry)

 

[Mulligan]

I am not an economic expert, but I think this old saying applies to our debt situation. It's not a problem, until it becomes one.

 

[HawkeyeNFO]

QE3 spends $85 billion monthly until Berbanke says otherwise. Times 12 months, that's over $1 trillion. Divided by the 315,000,000 US citizens that the census bureau says there are, and that means the Fed is devaluing currency at a rate of $3238 annually per person. Not a problem....

 

[aja8888]

But when interest rates rise, and we all get raises, the debt will be paid back with inflated dollars........Of course it's not a problem.

 

[Mulligan]

But when interest rates rise, and we all get raises, the debt will be paid back with inflated dollars........Of course it's not a problem.

Personally, I am very concerned, but what I meant was I believe it will "be a problem" in a swift painful manner, then the masses will complain, but it will be too late.