National Debt Clock

Some suggest our debt isn't serious because of it's relationship to what is alleged to be GDP, but the ballooning GDP is more of an indication of the increase in phony money being blown into the system (inflation), rather than having any relationship to wealth being produced. Particularly in light of our nation's economic conversion from the manufacture of real goods - and real wealth creation - to one of "service". On average M3 has grown at eight times the rate of industrial production over the last 50 years. Additionally, our GDP is far more than offset by just our gross national personal/private debt.

If the government merely announced approval to drill in ANWAR, crude oil prices would begin a precipitous decline, perhaps back to the $10 that they declined to last time such a perception entered the scene. But the hippies have won that debate in their efforts to transfer U.S. wealth to Hugh Chavez, Iran and Saudi-Arabia. But then we may se $10 oil yet again, but through deflationary depression.

Politicians have recently been talking about whether those mean nasty U.S. oil companies would or would not adjust the price of gas, in light of a tax, that is or is not imposed on them, and such. How can they be so far removed from reality considering the position they are running for? The price of gas is set by the global buyers and sellers in the commodity market - every day - not at the whim of some U.S. oil company exec sitting with his feet up on a desk. Here is a link to a weekly chart of unleaded gas at the New York Mercantile Exchange. This price is largely determined by the price of crude which is bought and sold the same way, and in the same place. Those oil companies that distribute gas in the U.S. are in extremely close competition. If they weren't you would be driving to their competitor's gas pump.

As an aside, nature produces 29 times the CO2 of all fossil fuel burning and forest prescribed burning. Termites alone, produce 10 times the CO2 of all fossil fuel burning. So who owns the environmental movement? Is this "environmental movement" simply about mind control?

(anchor) Interest expense on the United States debt is a time bomb - now exploding - comprising a whopping 85% of our 2007 deficit compared to 70% of our fiscal 2006 deficit (partly because other components of our 2007 on-budget deficit were smaller). As of fiscal year end '07, debt interest set a new record totaling $429 billion dollars. Do we have to wonder why the Fed is willing to cut interest rates, regardless of further rendering the U.S. dollar to the status of a banana republic currency? Let alone the Fed's feeble effort to head off a banking collapse resulting from the unwinding of the greatest real estate mania in world history. Prior to the 1960's, and the acceleration of the destruction of our currency through inflation, a house was something that you lived in that depreciated. It was generally not considered an "appreciating" asset - at least not among the middle class.

Can you believe the chutzpah of Alan Greenspan! One would have thought he would have skulked off into the shadows hoping never to be noticed again, but instead he writes a book and points his finger.

In the 1960's he was a gold-backed sound-money champion and Ayn Rand groupie. But by the turn of the century, as chairman of the so-called Federal Reserve - a private banking institution with nothing Federal about it - the Creature From Jekyll Island - Greenspan presided over the creation of the largest amount of phony money of any currency in the history of the world. HE BECAME everything he had earlier condemned in his 1960's paper "Gold and Economic Freedom", perhaps confirming the quote by Lord Acton, the British historian, who said: "All power tends to corrupt; absolute power corrupts absolutely."

"But the Emperor has nothing at all on!" Said a little child. "Listen to the voice of innocence!" exclaimed the father; and what the child had said was whispered from one to another. "But he has nothing on!" at last cried all the people. The Emperor was vexed, for he knew that the people were right; but he thought, "The procession must go on now!" And the lords of the bed-chamber took greater pains than ever to appear holding up a train, although, in reality, there was no train to hold. - Hans Christian Anderson

Who would have thought that it would be the emperor that wound up pointing at himself! In mid-March the Fed announced that they were standing by with however much money was required, to keep their Keynesian scheme afloat. In other words, the supply of "money" available to them is infinite. Perhaps it will need to be considering a 70 trillion dollar derivative liability in the markets.

Imagine how different the world would be if, in a single day, everyone in the world came to realize that the "money" of all of the nations of the world ..... isn't! Watts of '65, Detroit of '67, on a global basis.

And now with "helicopter" Ben Bernake repeatedly lowering rates to the further destruction of our phony dollar we can see how this tightrope act would seem to be reaching a conclusion. The rock and the hard place.

With a grossly overvalued stock market shaving a few points, and a little of the fluff gone from the housing bubble/mania, the financial pundits are all screaming for the Fed to lower rates, and the Fed has accommodated apparently not getting that Japan's rates were around 1/2 of a percent (even to 0% I believe) for much of the 20 consecutive years of deflation. And they began their depression with one of the world's strongest currencies, and as the world's leading creditor nation, and with one of the world's highest savings rates. None-the-less Japan lost 80-90% of the value of their real estate market during that deflation. Lower rates didn't do it for them, and all it is doing for us is further destruction of our "dollar". Why borrow money when you know that whatever you do with it will be worth less the longer you hold it?

"History does not deal kindly with the aftermath of protracted periods of low risk premiums," "Such an increase in market value is too often viewed by market participants as structural and permanent." Alan Greenspan, 2005

Why not lower the rates to 0%? I'm sure the world would then be really eager to finance our debt with no interest return on their money, in a currency that will likely depreciate at 10% or so per year, relative to their own. Oh well. I guess that's what we should expect when values are set by non-productive and arbitrary setters of value, in a Keynesian financial system dependent on them.}

"Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, 'Account overdrawn.'" - Ayn Rand - Atlas Shrugged

To top it off, some politicians answer is raising capital gains tax to 25%, rather than cutting spending! This means that after selling an asset, an investor would only have 3/4 of the gain left. Then in order to justify reinvestment of that money into another asset/business, it would have to realize a 33% profit on that amount - in the first moment of acquisition - in order to return the investor only back to a zero position. Starting with a weak economy, it would put the economy into a deep freeze.

Here's a fun U-tube on debt as money. While a good discussion about money, the conclusions and repair suggestions are liberal and unrealistic. If history is any guide, the only "fix" for phony money begins with economic collapse, followed by a collective interest in returning to sound money.

So why would anyone loan our government money at 4% interest, when the Fed has depreciated our currency by 15% over the last year alone? And by 36% over the last 5 years. Could it be that the world's central bankers understand how fully they are involved in a game of musical chairs - marching in a circle with their paper hats on - in which they also understand there are no chairs whatsoever?

Some in Congress even had the nerve to launch a charade putting oil executives in the hot-seat for the price of gas going up, while it is our ability to purchase it with U.S. dollars that has been being destroyed. This even though crude oil is traded, and the price set, on the world market.

Any politician that blames the executive branch, or the presidency, for the Fed's blizzard of fake money housing bubble and bust, in it's near-century-old Keynesian scheme, should automatically be disqualified from serving in public office, purely on the basis of sheer stupidity.

"The average age of the world's greatest civilizations has been two hundred years. These nations have progressed through this sequence. From bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance, from abundance to complacency; from complacency to apathy, from apathy to dependence, from dependence back into bondage." - Professor Joseph Olson

"Helicopter" Ben Bernake will now commence with an even greater blizzard of cash financing a chicken in every pot. Politicians from both sides fell all over each other to promise a few hundred bucks to voters in another wealth redistribution scheme. But who pays the bills after the so-called stimulus drunken binge is over? At least to Greenspan's credit, when faced with a slow-down, he suggested that a broad-based, middle class tax cut, was the worst possible thing that Congress could do, and that permanently eliminating capital gains tax, would be the best form of stimulus.

1) They will make whole stock market speculators and the greedy people who had no savings, and still bought larger homes than they should have, or those without savings who shouldn't have bought in the first place.

Here's the funny part. All of the stimulus will be geared toward increasing consumption of exactly those who are already living above their means, as evidenced by a negative savings rate.

"Encouragement of consumption is no benefit to commerce, for the difficulty lies in supplying the means, not in stimulating the desire of consumption: and we have seen that production alone furnishes those means. Thus, it is the aim of good government to stimulate production, of bad government to encourage consumption." - Jean-Baptiste Say - "A Treatise on Political Economy", 1803

Oh well, I guess representative republics were only meant to last until Marxism replaces morality, and an ignorant majority believes it can gain materially, by voting itself largesse at the expense of the prudent minority.

Woodrow Wilson is responsible for our phony money via the Federal Reserve. But who is historically responsible for our evermore exponential debt? It's congress that controls the spending.

We can see from the chart that prior to 1994 Democrats held overwhelming control of the House for nearly the entirety of the prior 60 years, beginning in 1933. In fact ALL of the tiny portions of Republican control since then have included extremely narrow majorities by comparison. Recent years of historically unprecedented Democrat filibusters of Republican judicial appointments aptly demonstrated that the Republican's majority margin was too thin to offer any congressional power whatsoever.

In '06 America decided to put the party back into power, that's been historically overwhelmingly responsible for the profligate spending expressed on this page, and our nation's obvious inability to finance it. But then it has been government by the media. But the republican congress has shown no restraint either, since abandoning their "Contract with America", in the early 90's. Bush Sr.'s "Points of Light" and the two Bush's profligate spending piled on. Particularly via the Medicare Prescription Drug Benefit.

During the 60 years prior to 1994 Democrats also held nearly complete, and usually overwhelming, majority control of the senate, with the exception of 6 years under Reagan during which the Senate Republicans had to contend with an obstructionist Democrat majority in the House.

The author of the U.S. DEBT CLOCK also has a crime clock that can be accessed on their site at TopTips.com. Note the figures for "defensive gun use by law abiding citizens" and then ask yourself why so many of our masters in congress want to take away our ability to defend ourselves. Here is a link to the home page of TopTips.com.


	Babylon Today \| home What Happened? \| Why Babylon? \| Solutions \| Medicare Prescription Drug Benefit \| Abortion \| Salvation \| End-Time Scenario \| Episcopalians \| Charities and Organizations \| The Environment \| Forestry \| The Constitution \| Page of Outrage \| The U.N. \| General Assets \| Stocks Bonds \| General Politics \| Politics 2004 \| Politics 2006-2008 \| Bahamas Freedom \| Contact Us \| My Purpose \| National Debt Clock U.S. National Debt Clock (takes a moment to load) As a frame of reference when I first included this debt clock in the fall of 2003 my "family's share" was $109,000. Debt Clock by TIPS! See National Debt Chart below to get an idea as to the trend. Review the home page for the reasons for it, and discussion of phony money. Some suggest our debt isn't serious because of it's relationship to what is alleged to be GDP, but the ballooning GDP is more of an indication of the increase in phony money being blown into the system (inflation), rather than having any relationship to wealth being produced. Particularly in light of our nation's economic conversion from the manufacture of real goods - and real wealth creation - to one of "service". On average M3 has grown at eight times the rate of industrial production over the last 50 years. Additionally, our GDP is far more than offset by just our gross national personal/private debt. If there were a clock like the above for M3, or phony money production, it would have been traveling at an even faster rate then the debt clock above, over the same period. If the government merely announced approval to drill in ANWAR, crude oil prices would begin a precipitous decline, perhaps back to the $10 that they declined to last time such a perception entered the scene. But the hippies have won that debate in their efforts to transfer U.S. wealth to Hugh Chavez, Iran and Saudi-Arabia. But then we may se $10 oil yet again, but through deflationary depression. The caribou love the the Alaska pipeline. Politicians have recently been talking about whether those mean nasty U.S. oil companies would or would not adjust the price of gas, in light of a tax, that is or is not imposed on them, and such. How can they be so far removed from reality considering the position they are running for? The price of gas is set by the global buyers and sellers in the commodity market - every day - not at the whim of some U.S. oil company exec sitting with his feet up on a desk. Here is a link to a weekly chart of unleaded gas at the New York Mercantile Exchange. This price is largely determined by the price of crude which is bought and sold the same way, and in the same place. Those oil companies that distribute gas in the U.S. are in extremely close competition. If they weren't you would be driving to their competitor's gas pump. As an aside, nature produces 29 times the CO2 of all fossil fuel burning and forest prescribed burning. Termites alone, produce 10 times the CO2 of all fossil fuel burning. So who owns the environmental movement? Is this "environmental movement" simply about mind control? DEBT INTEREST TIME BOMB (anchor) Interest expense on the United States debt is a time bomb - now exploding - comprising a whopping 85% of our 2007 deficit compared to 70% of our fiscal 2006 deficit (partly because other components of our 2007 on-budget deficit were smaller). As of fiscal year end '07, debt interest set a new record totaling $429 billion dollars. Do we have to wonder why the Fed is willing to cut interest rates, regardless of further rendering the U.S. dollar to the status of a banana republic currency? Let alone the Fed's feeble effort to head off a banking collapse resulting from the unwinding of the greatest real estate mania in world history. Prior to the 1960's, and the acceleration of the destruction of our currency through inflation, a house was something that you lived in that depreciated. It was generally not considered an "appreciating" asset - at least not among the middle class. Chart debt interest numbers from treasury: http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm Debt numbers below from treasury: http://www.treasurydirect.gov/NP/BPDLogin?application=np Can you believe the chutzpah of Alan Greenspan! One would have thought he would have skulked off into the shadows hoping never to be noticed again, but instead he writes a book and points his finger. In the 1960's he was a gold-backed sound-money champion and Ayn Rand groupie. But by the turn of the century, as chairman of the so-called Federal Reserve - a private banking institution with nothing Federal about it - the Creature From Jekyll Island - Greenspan presided over the creation of the largest amount of phony money of any currency in the history of the world. HE BECAME everything he had earlier condemned in his 1960's paper "Gold and Economic Freedom", perhaps confirming the quote by Lord Acton, the British historian, who said: "All power tends to corrupt; absolute power corrupts absolutely." "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value." - Alan Greenspan - 1966 "But the Emperor has nothing at all on!" Said a little child. "Listen to the voice of innocence!" exclaimed the father; and what the child had said was whispered from one to another. "But he has nothing on!" at last cried all the people. The Emperor was vexed, for he knew that the people were right; but he thought, "The procession must go on now!" And the lords of the bed-chamber took greater pains than ever to appear holding up a train, although, in reality, there was no train to hold. - Hans Christian Anderson Who would have thought that it would be the emperor that wound up pointing at himself! In mid-March the Fed announced that they were standing by with however much money was required, to keep their Keynesian scheme afloat. In other words, the supply of "money" available to them is infinite. Perhaps it will need to be considering a 70 trillion dollar derivative liability in the markets. Imagine how different the world would be if, in a single day, everyone in the world came to realize that the "money" of all of the nations of the world ..... isn't! Watts of '65, Detroit of '67, on a global basis. And now with "helicopter" Ben Bernake repeatedly lowering rates to the further destruction of our phony dollar we can see how this tightrope act would seem to be reaching a conclusion. The rock and the hard place. With a grossly overvalued stock market shaving a few points, and a little of the fluff gone from the housing bubble/mania, the financial pundits are all screaming for the Fed to lower rates, and the Fed has accommodated apparently not getting that Japan's rates were around 1/2 of a percent (even to 0% I believe) for much of the 20 consecutive years of deflation. And they began their depression with one of the world's strongest currencies, and as the world's leading creditor nation, and with one of the world's highest savings rates. None-the-less Japan lost 80-90% of the value of their real estate market during that deflation. Lower rates didn't do it for them, and all it is doing for us is further destruction of our "dollar". Why borrow money when you know that whatever you do with it will be worth less the longer you hold it? "History does not deal kindly with the aftermath of protracted periods of low risk premiums," "Such an increase in market value is too often viewed by market participants as structural and permanent." Alan Greenspan, 2005 Why not lower the rates to 0%? I'm sure the world would then be really eager to finance our debt with no interest return on their money, in a currency that will likely depreciate at 10% or so per year, relative to their own. Oh well. I guess that's what we should expect when values are set by non-productive and arbitrary setters of value, in a Keynesian financial system dependent on them.} "Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, 'Account overdrawn.'" - Ayn Rand - Atlas Shrugged To top it off, some politicians answer is raising capital gains tax to 25%, rather than cutting spending! This means that after selling an asset, an investor would only have 3/4 of the gain left. Then in order to justify reinvestment of that money into another asset/business, it would have to realize a 33% profit on that amount - in the first moment of acquisition - in order to return the investor only back to a zero position. Starting with a weak economy, it would put the economy into a deep freeze. Here's a fun U-tube on debt as money. While a good discussion about money, the conclusions and repair suggestions are liberal and unrealistic. If history is any guide, the only "fix" for phony money begins with economic collapse, followed by a collective interest in returning to sound money. So why would anyone loan our government money at 4% interest, when the Fed has depreciated our currency by 15% over the last year alone? And by 36% over the last 5 years. Could it be that the world's central bankers understand how fully they are involved in a game of musical chairs - marching in a circle with their paper hats on - in which they also understand there are no chairs whatsoever? Some in Congress even had the nerve to launch a charade putting oil executives in the hot-seat for the price of gas going up, while it is our ability to purchase it with U.S. dollars that has been being destroyed. This even though crude oil is traded, and the price set, on the world market. Any politician that blames the executive branch, or the presidency, for the Fed's blizzard of fake money housing bubble and bust, in it's near-century-old Keynesian scheme, should automatically be disqualified from serving in public office, purely on the basis of sheer stupidity. Monthly chart of the U.S. Dollar Index as of 3-19-08 below. http://futures.tradingcharts.com/chart/US/M Click on chart for current weekly chart. "The average age of the world's greatest civilizations has been two hundred years. These nations have progressed through this sequence. From bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance, from abundance to complacency; from complacency to apathy, from apathy to dependence, from dependence back into bondage." - Professor Joseph Olson "Helicopter" Ben Bernake will now commence with an even greater blizzard of cash financing a chicken in every pot. Politicians from both sides fell all over each other to promise a few hundred bucks to voters in another wealth redistribution scheme. But who pays the bills after the so-called stimulus drunken binge is over? At least to Greenspan's credit, when faced with a slow-down, he suggested that a broad-based, middle class tax cut, was the worst possible thing that Congress could do, and that permanently eliminating capital gains tax, would be the best form of stimulus. Here is what the Marxists in Congress will do to "fix" the problem. 1) They will make whole stock market speculators and the greedy people who had no savings, and still bought larger homes than they should have, or those without savings who shouldn't have bought in the first place. 2) A blizzard of money will destroy the value of the savings of those who worked hard all their lives and maintained their finances conservatively. 3) The stimulus will be financed on the backs of hard working conservative people who live within their means, bought homes they could afford, and saved for a rainy day. The result will, of course, be a further collapsing dollar, and continuing skyrocketing debt, the interest alone on which we paid over 429 billion dollars last year. Here's the funny part. All of the stimulus will be geared toward increasing consumption of exactly those who are already living above their means, as evidenced by a negative savings rate. "Encouragement of consumption is no benefit to commerce, for the difficulty lies in supplying the means, not in stimulating the desire of consumption: and we have seen that production alone furnishes those means. Thus, it is the aim of good government to stimulate production, of bad government to encourage consumption." - Jean-Baptiste Say - "A Treatise on Political Economy", 1803 Oh well, I guess representative republics were only meant to last until Marxism replaces morality, and an ignorant majority believes it can gain materially, by voting itself largesse at the expense of the prudent minority. Woodrow Wilson is responsible for our phony money via the Federal Reserve. But who is historically responsible for our evermore exponential debt? It's congress that controls the spending. We can see from the chart that prior to 1994 Democrats held overwhelming control of the House for nearly the entirety of the prior 60 years, beginning in 1933. In fact ALL of the tiny portions of Republican control since then have included extremely narrow majorities by comparison. Recent years of historically unprecedented Democrat filibusters of Republican judicial appointments aptly demonstrated that the Republican's majority margin was too thin to offer any congressional power whatsoever. The few moments of Republican SHARED control, throughout the last 74 years were saddled with spending that was already in the pipeline - increasing since Roosevelt. In '06 America decided to put the party back into power, that's been historically overwhelmingly responsible for the profligate spending expressed on this page, and our nation's obvious inability to finance it. But then it has been government by the media. But the republican congress has shown no restraint either, since abandoning their "Contract with America", in the early 90's. Bush Sr.'s "Points of Light" and the two Bush's profligate spending piled on. Particularly via the Medicare Prescription Drug Benefit. During the 60 years prior to 1994 Democrats also held nearly complete, and usually overwhelming, majority control of the senate, with the exception of 6 years under Reagan during which the Senate Republicans had to contend with an obstructionist Democrat majority in the House. "Don't gamble. Take all your savings and buy some good stock and hold it til it goes up then sell it. If it don't go up, don't buy it." - Will Rogers Chart Data Provided by the Senate and the House. The author of the U.S. DEBT CLOCK also has a crime clock that can be accessed on their site at TopTips.com. Note the figures for "defensive gun use by law abiding citizens" and then ask yourself why so many of our masters in congress want to take away our ability to defend ourselves. Here is a link to the home page of TopTips.com.