Here’s the full rundown on the government’s debt, from Wolf Richter at wolfstreet.com:
We don’t even want to know what debt-to-GDP looks like in the next recession when it’ll get hit by a double-whammy.
The US national debt – the total amount of Treasury securities – rose to $35.00 trillion, according to the Treasury Department on Friday (rounded to the nearest billion: $34.998 trillion). Since the beginning of the year, in less than seven months, the debt has jumped by $1.0 trillion. Since January 2020, the debt has ballooned by 50%.
The economy has been growing rapidly since the trough in 2020. Yet trillions in new debt were whizzing by so fast they were hard to see, like, “Oh wow, there went another one I think.” We don’t even want to know what this situation will look like during the next recession. But we know one thing for sure, this is nuts:
The size of the economy and the debt.
The chart above is somewhat tongue-in-cheek because the debt in a vacuum is kind of meaningless. It needs context. And the context is the size of the economy.
The debt is measured in “current dollars,” not adjusted for inflation. So we compare it to the size of the economy (GDP) in “current dollars,” not adjusted for inflation. Apples to apples.
Reading about Yellen stating that $78 trillion will be needed for the Green Nude Eel through 2050. (H/T-DC)
Yes, I thought it was Mystery Babylon Be at first.
Esteemed CPUSA (D) party member the historic gutsy call Kamal is all onboard.
Guns will be worth more than gold as well as the bottom of the barrel Derp State dregs go for those.
God, Gas, Guns, Groceries, Gold, uber alles in Leave the World Behind 2025 LARP?
Let them own all the FAIL one hundred percent.