Little known facts

IaGary

Well-known Member
Did you know that if you hung a $5 bill on each corn stalk grown in the United States you would not harvest enough money to pay off our national debt of 20 trillion?

92 million acres of corn at 30,000 population. You do the math.
 
My opinion is that the debt will be paid by inflation. In my lifetime, a cup of coffee in a restaurant has gone from $.05 to $3.00 in some places. If we would quit adding to the 19 trillion debt we have now, it might look like peanuts in a few years. Fat chance of that happening I guess.
 

If every adult in the U.S pays $5.00 a day, it would take a little over 45 years to pay off the national debt. If we paid $10.00 a day each, it would take 22.6 years.
 
Our National debt started in 1775
We paid it off 1 time in our history when Andrew Jackson sold off western land and used the money to pay off the debt.
That lasted for about a year and we were back in debt.
And now we have nothing to sell.

We as a nation do not want to be debt free.
We want free stuff that someone else pays for.
Imagine what would happen to our economy if we slashed spending to income.

But that day will come; and anyone that thinks past depressions were bad;
Well you ain't seen nothing yet.
 
You are 100% correct, inflation is what all the worlds governments count on to bail them out time after time from irresponsible spending but inflation has not been cooperating the last few years, in spite of zero interest rates and easy money we actually are experiencing deflation in almost all commodities and raw materials.
 
hope your wrong...but ,,,I do think your right.....and this isnt funny,,,when it hits my turnip patch and potato patch will be real popular,,,
 
Larry;
The only thing that keeps the system going is that every one is in debt.
If we listed the 5 countries in the world that do not have debt you would not know who they are as they are so small.

The U.S. is in debt to who?
China
How can that be when China is in debt also.

The thing that saves China is they have lent out more than they have borrowed.
If the U.S. called in all of its loans we are really about 3 trillion in debt.
The U.K. and France are in the same boat.

If all debts in the world were called in Germany and China are the two with money in their pockets.
 
L, I can't answer that but it's a good thing a grain of salt is still cheap because almost never are any of these political "facts" on here documented. gm
 
Is that what my population is supposed to be?!? Now I am really depressed.

Oh wait...that wasn't your point was it?
 
Ya need to place that one on face book and twitters . Now as for me a five dollar bill on each corn stalk on a 100 acres would be great . Then i could afford to enjoy life get a new ride for the War Dept. and have someone else remodel the kitchen . I am getting to old for ripping out 125 year old plaster hanging new drywall layen down a new floor building cabits replumbing down in the crawl space . But the only way it is going to get done now is if i do it . and after each operation it will take a good week of recovery if it don't kill me .
 
Interest on national debt was 402 Billion dollars in 2013 with a average rate of .5% interest. If (when) interest rates return to previous historic low levels (about 4%) the interest alone on the CURRENT national debt will be 3.2 TRILLION dollars a year or more money than the IRS collected in income taxes in 2012.

That little fact alone should be on anyone's mind that is making any long term financial planning.
 

England borrowed money to pay for the Napoleonic wars around 1800. They finally paid of the last of the bonds about 1900. The leadership in most countries idiotic.

KEH
 
(quoted from post at 15:59:42 11/28/15) Only 34% of our debt is held by foreign investors, the rest is within our country, and we are buying it down every day!

That's QE1, 2, etc. You may as well call it printing worthless money because that's all it is. It's the deliberate devaluation of our currency. Nothing is being done to slow the growth if the debt and the "falling deficit" is being financed by the growing debt. I really don't know why the system hasn't collapsed yet or when it finally will. I do know that the current paradigm is not sustainable. When the Fed finally starts pushing interest rates upward, and eventually they will have to, I think you will see some serious problems across our economy.
 

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