Wednesday, March 11, 2009

Child Debt to Bankers

Over the course the past year, Obama, Bush, and congress have brutally generated $10T in new child debt to maniacally rich multinational financiers. The NY Times chart, below, doesn't count Obama's more recent $2T+ of jackpot payoffs to his filthy rich owners, raised by flogging the new American destitute:
Click to Enlarge

To put it in perspective, over the course of the past year the United States government has increased what its children owe to international financiers by more than all of the following events, combined (adjusted to 2009 dollars):
  • World War II ($4,400B)
  • World War I ($1,400B)
  • The Vietnam War ($700B)
  • The Iraq War ($600B)
  • FDR's New Deals I & II ($500B)
  • The Korean War ($450B)
  • Putting a Man on the Moon ($240B)
  • The S&L Giveaways ($250B)
  • The Lousiana Purchase ($220B)
  • The Marshall Plan ($115B)
  • The U.S. Civil War ($106B)
  • The American Revolution ($16B)
Click to Enlarge

More perspective, all adjusted to 2009 dollars, over the last 12 months:
  • Congress has paid Citi Group 3 times more than it cost to rebuild Europe after WWII
  • Congress has blown enough to buy every single share of GM stock, 7,285 times over
  • Congress has stuffed enough cash in the pockets of AIG executives to fight the U.S. Civil War
  • We could have, instead, bought 20,000 loaves of bread for every human on Earth (20,000 loaves = 50 miles laid end to end)
  • We could have bought every American taxpayer a 385hp 2009 Porsche 911 Carrerra S or 911 Cabriolet, in your choice of style and color. Most households would get a set of two, a lot of homes would get four or more:

Source: Motortrend First Drive: 2009 Porsche 911


  1. WOW That chart is staggering and scary and breath taking.

    The opposite of a beautiful sunset.

  2. FDR, regarding your previous Elliot post:

    Do you think it is possible that we do not extend past current low of SnP 665 once we start leg 5 down of the current wave? It seems that might be genetically impossible, but who knows.

    Thanks for you help.

  3. i vote for 20,000 loaves for all humans, its only fair, after all, we rape and kill all of humanity to prosper in America for the last 3 decades

  4. FDR:
    It is evident that these bankers control not only our country but the world. I think little by little some of us are waking from our slumber. I am left perplexed on how shrewd and cunning they are. It is almost as if they are not human. They manage to collect tribute from us right under our noses and the majority of our population has no clue about it. what kind of beings are we dealing with? Certainly Geithner and Bernanke are servants to them. This is such an elaborate cartel controlling the printing of all the world's money...

  5. The japanese, chinese, and saudis can't and won't fund our debt any longer so your graphics lead me back to the conclusion that the only way to provide that level of capital infusion is by monetizing it.

    Which leads us back to the old deflation/inflation argument. How do you continually monetize trillions without eventually causing inflation? I don't think you can.

    If the DEflation that has been the result of overleverage moderates, the cure, which has been all of this capital infusion - (unbacked currency creation that has no chance of being paid back) - could likely come storming back as hyperinflation.

  6. For inflation you need to look at jobs first, otherwise there is no chance for a prolonged INflation.

  7. I can find a way for paying for this. Create trillions in debt and then offer a haircut of 30% or more on bondholders.

    Of course that would mean war with foreign creditors. I guess that is why the Navy was mapping the seafloor of the Chinese naval base last week.


The USA's political-economc system is best described as:

On Nov 2, 2010, I plan to vote (FOR or AGAINST) my incumbent congressman

Free Hit Counter