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Old Yesterday, 06:18 PM
Location: SoCal
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GDP only represents one years worth of product.
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Old Today, 05:18 AM
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Originally Posted by Mircea View Post

Not all assets can be liquefied.

Those assets do include military aircraft, naval vessels, armored and other military vehicles, plus other military equipment.

I hope you're not suggesting that States will sell off the radars at their civilian airports to pay down debt. It might get quite messy in the skies.

Worse than that, assets cannot be liquefied if no one's buying because they don't have any money.
No, not at all. The national debt isnít secured with collateral. We wonít be selling off the Great Lakes water or yellow stone to pay anyone. They either accept more depreciating dollars or nothing. If they donít like it, they could come try to collect across the ocean against the u.s navy I suppose.

What Iím saying is that in the traditional sense with double entry accounting, when liability is soaring....someone owns those financial assets on the other side. Assets are soaring too. Assets that expand the credit basis for those people to borrow more.
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Old Today, 08:36 PM
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I don't think people really comprehend the significance of this... It's a house of cards globally... Once the credit markets collapse all associated industries will collapse inward as well. Those left holding real assets or tangible skills will be the victors once the dust settles.

I do fear a significant amount of death and suffering will be upon us within our lifetime.
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