U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-18-2019, 10:14 PM
 
Location: Riding a rock floating through space
1,527 posts, read 422,498 times
Reputation: 3915

Advertisements

This $244 trillion debt represents over three times the global GDP. I'm speechless to elaborate on my thoughts, other than to say God help us.
https://www.bloomberg.com/news/artic...-faster-growth
Reply With Quote Quick reply to this message

 
Old Yesterday, 02:05 AM
 
2,542 posts, read 1,627,549 times
Reputation: 5479
And what are the global assets to go with that debt?

If you counted my student loans, mortgage, furniture loans, car loans, 0 percent interest credit cards, there were times my debt to income would have been several hundred percent of debt to my “gdp”. Yet, the risk of default was low, and financially it doesn’t really present challenges.

And I don’t have debts in my own currency
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:11 AM
 
69,467 posts, read 70,016,385 times
Reputation: 47053
all i can say is "MEH " life goes on .. there is no reason for me to worry about what i can't control .. not even worth my time discussing to be honest. it goes on the lazy susan of life along with all the other concerns i have that i can't control and it gets swung around to the back where i give it no thought. it is what it is .
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:16 AM
 
Location: Pennsylvania
11,731 posts, read 3,930,287 times
Reputation: 9158
Quote:
Originally Posted by mathjak107 View Post
all i can say is "MEH " life goes on .. there is no reason for me to worry about what i can't control .. not even worth my time discussing to be honest. it goes on the lazy susan of life along with all the other concerns i have that i can't control and it gets swung around to the back where i give it no thought. it is what it is .
Correct!
This number will never be paid off, it's simply money owed by some to others. The "others" will eventually take a bath on repayment, but that's not my concern either.
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:20 AM
 
12,604 posts, read 9,744,385 times
Reputation: 9234
Last I checked, this world debt is 100% internal, that is, owed from the world to itself. Only approximately 0% is owed to foreign planets, even when Mars is accounted for!
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:23 AM
 
69,467 posts, read 70,016,385 times
Reputation: 47053
Quote:
Originally Posted by ncole1 View Post
Last I checked, this world debt is 100% internal, that is, owed from the world to itself. Only approximately 0% is owed to foreign planets, even when Mars is accounted for!
we may owe a lot to uranus .
Reply With Quote Quick reply to this message
 
Old Yesterday, 05:11 AM
 
2,542 posts, read 1,627,549 times
Reputation: 5479
Quote:
Originally Posted by ncole1 View Post
Last I checked, this world debt is 100% internal, that is, owed from the world to itself. Only approximately 0% is owed to foreign planets, even when Mars is accounted for!
Ever wonder why were the only planet with life in the solar system? Theyre examples of what happens when you donít pay your debts to the galactic empire.
Reply With Quote Quick reply to this message
 
Old Yesterday, 06:35 AM
 
Location: The Triad (NC)
28,145 posts, read 60,825,955 times
Reputation: 31470
Quote:
Originally Posted by Thatsright19 View Post
And what are the global assets to go with that debt?
Which is the standard to measure from.

Reining the discussion in some to just the US...
far too much of what is owed has been spent for NO ASSET VALUE at all.

Quote:
Originally Posted by JayHancock
May 2011 Link : The national debt is $14 trillion. That is a lot of money. Even a trillion is a lot of money.
I learned how much after reading this calculation by former math teacher Edward Hopkins...
You could win trillions of bar bets by asking: How long would it take to count to a trillion?

How much is a trillion?
It's not easy to understand large numbers like billions and trillions,
yet we hear about them all the time when people are discussing the economy.
What would happen if you tried to count to one trillion out loud?
Assuming five syllables per second and accounting for the fact that larger numbers have more syllables,

I came up with an estimate.
Counting to 10 will take two seconds.
You will reach a hundred in about one minute.

After 18 minutes you will hit a thousand.
To get to a million takes 700 hours.
Now we're getting to the point where the time is getting too large to easily comprehend.

Let's make counting a full-time job of eight hours a day, five days a week, 50 weeks a year.
Counting to a million would take about 18 weeks, or from January to the first week in May.
To reach 10 million would require four years of counting.
If you started young and retired after 48 years of counting, you'd be at 100 million.

To continue we're going to need new counters to carry on the project.
If we employ each person for 50 years, we'll need a succession of 10 more people
for a total of 11 lifetimes just to count to a billion.
Archaeologists believe the human race invented counting about 50,000 years ago.

Counting to a trillion would take 15 times longer that that.
Now we're up to 22Trillion (well up from ~7T in 2011 when this was published)

Last edited by MrRational; Yesterday at 06:48 AM..
Reply With Quote Quick reply to this message
 
Old Yesterday, 06:53 AM
 
Location: east TN
85 posts, read 18,049 times
Reputation: 332
Quote:
Originally Posted by MrRational View Post

Now we're up to 22Trillion (well up from ~7T in 2011 when this was published)



And it doesn't seem to slow govt spending up one lick, does it ? As long as they run a printing press, and there are enough idiots in the world that accept what they print as 'money', the game will go on.
Reply With Quote Quick reply to this message
 
Old Yesterday, 06:55 AM
 
69,467 posts, read 70,016,385 times
Reputation: 47053
Quote:
Originally Posted by Tn_eddy View Post
And it doesn't seem to slow govt spending up one lick, does it ? As long as they run a printing press, and there are enough idiots in the world that accept what they print as 'money', the game will go on.
it can go on forever
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. | Please obey Forum Rules | Terms of Use and Privacy Policy

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top