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Old 08-21-2013, 10:04 AM
 
Location: Colorado
2,483 posts, read 3,524,119 times
Reputation: 2674

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Quote:
Originally Posted by davebarnes View Post
How many people in the world have debts that exceed their annual income?
1G? 2G?
Your debt (if you have a mortgage) exceeds your annual income.
You are dazed and confused if you are focusing on debt/income ratio being >1.
I think she meant that its debt payments exceed its annual income. Which is tantamount someone whose mortgage, car loan, and other required expenditures add up to, say, $5000 dollars each month, but they only net $3000 after taxes. That is what's known as a bankrupt (a.k.a. "broke") person. I'm not sure if that's the same situation that the US gov't is really in or not and I'm not trying to make any sort of political statement. I'm just trying to clarify what I think wanaroo meant.
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Old 08-21-2013, 11:42 AM
 
9,830 posts, read 19,543,217 times
Reputation: 7604
Quote:
Originally Posted by otterprods View Post
I think she meant that its debt payments exceed its annual income. Which is tantamount someone whose mortgage, car loan, and other required expenditures add up to, say, $5000 dollars each month, but they only net $3000 after taxes. That is what's known as a bankrupt (a.k.a. "broke") person. I'm not sure if that's the same situation that the US gov't is really in or not and I'm not trying to make any sort of political statement. I'm just trying to clarify what I think wanaroo meant.
Wanneroo is a he.

People seem to think you find 17,000 Billions stuffed down the back of the couch. And the federal government keeps running deficits in excess of 1,000 Billions a year.

Like people that live beyond their means eventually there is a day of reckoning with your finances.
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Old 08-21-2013, 11:45 AM
 
Location: Wherabouts Unknown!
7,764 posts, read 16,849,592 times
Reputation: 9317
wanneroo wrote: People seem to think you find 17,000 Billions stuffed down the back of the couch.

Which furniture store has those stuffed couches in stock? I'd like to get me one of those!
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Old 08-21-2013, 12:23 PM
 
Location: Colorado
2,483 posts, read 3,524,119 times
Reputation: 2674
Quote:
Originally Posted by wanneroo View Post
Wanneroo is a he.
LOL - sorry.
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Old 08-21-2013, 08:29 PM
 
9,830 posts, read 19,543,217 times
Reputation: 7604
Quote:
Originally Posted by CosmicWizard View Post
wanneroo wrote: People seem to think you find 17,000 Billions stuffed down the back of the couch.

Which furniture store has those stuffed couches in stock? I'd like to get me one of those!
Well I know Chicom Furniture Hut in Beijing has one with a couple thousand billion IOU's stuffed in one if you want to do a deal.
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Old 08-23-2013, 12:57 AM
 
Location: CO/UT/AZ/NM Catch me if you can!
4,703 posts, read 4,343,073 times
Reputation: 10302
Quote:
Originally Posted by wanneroo View Post
They'll have to. The country is broke, it's debt exceeds it's income, it runs deficits every single year and has tens of trillions of dollars in unfunded payments in the years to come.

I have yet for anyone to explain where all that money will come from to pay for it.
Yeah, and then we have the entire scientific community telling lies to us, little old ladies who used to teach third grade sitting on billions of dollars of PERA money, me telling lies about the San Juan Mountains and you just ain't getting no respect.

Bad times, bad times.....
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