Starfleet Jedi

Tic Toc

U.S. NATIONAL DEBT CLOCK

Funny one.
Right now, on the average, it takes 23 seconds to lose $1M.
FAQ

It feels like staring at a nuke's timer.

Back in August or September, I can't really remember which, the big debt clock over on Sixth Avenue was maxed out! The first digit had always shown the dollar sign, then it was changed to show a 1, and a new dollar sign was stenciled in on the side.

We broke the national debt clock.

"Save the clock tower! Save the clock tower!"
(cookie to who gets the reference)

:)

Praeothmin wrote:"Save the clock tower! Save the clock tower!"
(cookie to who gets the reference)

:)

I think there's much more too fear than mere thunder this time. ... °_°

Oh, seems like the national debt has reached the 14.294 billion dollars roof.

With an ever growing debt and absolutely no economic growth to compensate for it, what's going to happen?

Seems like the US will have to exploit inland super oil, sell it overseas and nationalize much of the profits.

Otherwise... the country collapses.

And nationalize all major (and many minor) private firms, most of whom are right now using US Government as private bank to cover their (finantial and other) screw-ups.

lol nationalizing business will never nor should ever happen in the US Politicians are too stupid for half the things people accuse them of (especially the conspiracies) and a grand majority of the stuff they are actually trusted with is beyond their faculties

Praeothmin wrote:"Save the clock tower! Save the clock tower!"
(cookie to who gets the reference)

:)

That's from the first "Back to the Future" movie.
-Mike

The trouble with that rooftop is that the country is essentially broke, as it can't borrow anymore.
It must sell more of its debt (which in itself is ludicrous, but Japan is even worse at it). But it can't do that if the economy collapses for real. However, it can interest usual buyers if, for example, another super money like the euro turns very weak and becomes not so interesting anymore.
The best way to achieve that is to make Greece go down in flames, and the rest will follow in short order.
That said, it will remain a temporary measure, as the US debt will keep inflating, and money will still be printed like hot cakes.
But there are not many solutions to avoid hyperinflation and recession.
Frankly, this just fucking sucks. We may be seeing the end of something we got used to, and it's possible that what is ahead is just plain trouble.
Heck, the Fed itself has been buying US treasury bonds beyond what was should have been allowed, essentially making the Fed broke.
Mmm... the price of gold and silver that keep going up, that's really not a good sign either. Not at all.

Problem (as I pointed out already) is that private companies (and there is shiiiiiitload of them) use US government and central bank as insurance company. They f*** up -> state pays for it. It shouldn't be allowed to continue, and, frankly, I think that either severe (and expensive) state control OR total nationalization of all major private firms are only exit from this crap. Short-term solution might be cutting on wars and transfering workers from weapons industry (which is corrupt from head to toe) to other industry branches.

@Admiral Breetai

Actually, politicians are not stupid - at least not always. Problem is that politicians are controlled by capitalists, and both of them care only for their sorry as***. And we all know how much capitalists care about state they live in. I would say that wild privatization is main (althought not sole) cause of this crap. It's happening in Croatia, too, althought over here most firms got sold to foreigners eventually. Damn Milton Friedman million times over.

@Mr. Oragahn

It feels like staring at a nuke's timer.

That, just worse. But China won't pay for US debts long.

Some links:
http://www.msnbc.msn.com/id/17424874/ns ... onal-debt/

http://www.brillig.com/debt_clock/faq.html

You will notice that debt exploded after 1983. That is approximately time when Milton Friedman's "free trade" and "deregulation" policies took over, along with Reagan's administration. ==Fuck Friedman, get Keynesians back!== is only solution I see in long term.

http://www.nytimes.com/2009/01/08/busin ... 8yuan.html

http://www.cbsnews.com/8301-503983_162- ... 03983.html