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b********n
发帖数: 38600 | 1 http://charlesbiderman.com/2014/08/04/us-is-bankrupt-89-5-trill
US is Bankrupt: $89.5 Trillion in US Liabilities vs. $82 Trillion in
Household Net Worth & The Gap is Growing.
We Now Await the Nature of the Cramdown.
By Chris Hamilton
There are many ways to look at the United States government debt,
obligations, and assets. Liabilities include Treasury debt held by the
public or more broadly total Treasury debt outstanding. There’s unfunded
liabilities like Medicare and Social Security. And then the assets of all
the real estate, all the equities, all the bonds, all the deposits…all at
today’s valuations. But let’s cut straight to the bottom line and add it
all up…$89.5 trillion in liabilities and $82 trillion in assets. There.
It’s not a secret anymore…and although these are all government numbers,
for some strange reason the government never adds them all together or
explains them…but we will.
The $89.5 trillion in liabilities include:
$20.69 trillion
$12.65 trillion public Treasury debt (interest rate sensitive bonds sold to
finance government spending)
Fyi – $5.35 trillion of “intra-governmental” Treasury debt are not
included as they are considered an asset of the particular programs (SS, etc
.) and simultaneously a liability of the Treasury
$6.54 trillion civilian and Military Pensions and Benefits payable
$1.5 trillion in “other” liabilities http://www.fms.treas.gov/finrep13/note_finstmts/fr_notes_fin_stmts_note13.html.
$69 trillion (present value terms what should be saved now to make up the
present and future anticipated tax shortfalls vs. present and future payouts
).
$3.7 trillion SMI (Supplemental Medical Insurance)
$39.5 trillion Medicare or HI (Hospital Insurance) Part B / D
$25.8 trillion Social Security or OASDI (Old Age Survivors Disability
Insurance)
Fyi – $5+ trillion of additional unfunded state liabilities not included.
Source: 2013 OASDI and Medicare Trustees’ Reports. (pg. 183), http://www.gao.gov/assets/670/661234.p
These needs can be satisfied only through increased borrowing, higher taxes,
reduced program spending, or some combination. But since 1969 Treasury
debt has been sold with the intention of paying only the interest (but never
repaying the principal) and also in ’69 LBJ instituted the “Unified
Budget” putting all social spending into the general budget reaping the
gains in the present year absent calculating for the future liabilities. If
you don’t know the story of how unfunded liabilities came to be and want to
understand how this took place, please stop and read as USA Ponzi explains
nicely… http://usaponzi.com/cooking-the-books.html
$81.8 trillion in US Household “net worth”
According to the Federal’s Z.1 balance sheet http://www.federalreserve.gov/releases/z1/current/z1r-5.pdf, the US has a net worth of $81.8 trillion – significantly up from the ’09 low of $55.5 trillion…a $23 trillion increase in five years. Fascinatingly, “household” liabilities are still $500 billion lower now than the peak in ’08 but asset “valuations” are up $22.5 trillion. All while wages have been declining. A cursory glance at the Federal Reserve’s $4 trillion in balance sheet growth in the same time period shows how the lack of growth in “household” liabilities (currently @ $13.7 trillion) has been co-opted by the Fed.
I believe it’s clear when incomes no longer supported credit and debt
growth in ’08, consumers tapped out and in stepped the Federal Reserve to
bridge the slowdown. But what the Fed may or may not have realized is once
they stepped in, there was no stepping out.
(Charles, would be great if you could export this chart from FRED to be
included…or if you have a better idea to show this relationship, would be
great???)
http://research.stlouisfed.org/fred2/graph/?g=GVF
How We Got Here – Growth of Debt vs. GDP
- See more at: http://charlesbiderman.com/2014/08/04/us-is-bankrupt-89-5-trillion-in-us-liabilities-vs-82-trillion-in-household-net-worth-the-gap-is-growing-we-now-await-the-nature-of-the-cramdown/#sthash.8Teu5iuR.dpuf | p*********r
发帖数: 7944 | | p*******9
发帖数: 1860 | 3 tks for the information ----熬疤马 | b********n
发帖数: 38600 | 4 疤马:
Your fucking retirement money was fucking stolen by a bunch of mother
fucking politicians and their mother fucking cronies. All the shit they
bought and all of their real estate and art and fine wine collections and
investments must be confiscated just like Bernie Madoff's shit was taken
back. It wasn't his in the first place because he fucking stole it.
【在 p*******9 的大作中提到】
: tks for the information ----熬疤马
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