sábado, 26 de junio de 2010

The Economist | Sovereign (World) Debt Chart

To show my readers how much of a nerd I am, I absorb as much information as possible from my favorite "newspaper" (the Brits call it a newspaper; Americans call it a magazine), The Economist. I was literally saying, "wow" four or five times when hovering my mouse over the world debt that each of these industrialized countries possess --- as a percentage of GDP:

economist.com/blogs/buttonwood/2010/06/indebtedness_after_financial_crisis

We are only headed for implosion in this country. The fiat fat cats and their supporters have nothing to back our "currency" on except thin air and China's promises that they will continue to purchase our debt. It's all a very, very scary situation when one thinks that gold and silver used to be barometers to real "value."

economist.com/blogs/buttonwood/2010/06/indebtedness_after_financial_crisis

When people wrap their mind and brain around just what exactly that "money" is that we work for, slave over, lust over...truly, truly understand what that currency is (it's a debt note, and that's it), then a lot of stress can be aleviated. Still, that doesn't mean we totally ignore it, or refuse to accept, spend, etc. it. Just means we need to re-define what "value" really means.

economist.com/blogs/buttonwood/2010/06/indebtedness_after_financial_crisis

And oh, hey, who do you think the Chinese use as collateral for our debt anyway? I love answering this question when no one asks it (I volunteer this information): us. We are the collateral. Ever wonder why birth certificates and socialist security cards and marriage licenses and all those instruments we must obtain from governments sometimes find their way being traded like credit default swaps on a shadowy market? Well now you know! Because we literally are backed by the full faith and credit of the U.S. taxpayers...

economist.com/blogs/buttonwood/2010/06/indebtedness_after_financial_crisis

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