faithandsurvival.com » Economic Collapse, Featured, National Blog » America’s National Debt $1.3 Quadrillion

America’s National Debt $1.3 Quadrillion

July 25th, 2012 | Add a Comment

$16 Trillion Dollars! What does that mean? How many of us can even comprehend what $16 trillion looks like, how many zeros is that or what happens if say interest rates go up to 5%. I would contend at this point we have for the most part become oblivious to our national debt, state debt, local debt, heck our own debt in many instances. Today we are staring at some grim times but is anything more difficult than where we are at today with our national debt?

I remember not to long ago I was helping to get a tea party rally going back in April 2009. At that time my number one reason for helping to get the tea party movement to happen in my local area was our national debt, and what it meant from a logical and factual basis for every man and woman in our country. Signs were being raised that said we are enslaving our children, and thank you government for giving us debt not liberty! I could sense that some people where starting to get that the future of our country was being spent away and that our children would not have a middle class as well as we did.

Over the next several years including the 2010 election cycle politician after politician campaigned on the platform of “reduce the debt”, or “balance the budget”. Do we all remember that 63 new Republican Congressman and woman as well as 7 new Republican senators all were elected with the same general tenure of shrink government, and stop spending. Over and over you would see on the “news” channels how our national debt clock was spinning out of control and that our children would have to pay for our spending.

Even last year around November it bacame impossible for whatever reasons for congress to stop spending so they came up with a “Supercommittee” of 12 members whom would be the ones to magically cut spending to allow another $1.5 trillion in additional spending over and above the $1.0 trillion that comes into the government via taxation. That same “Supercommittee” of super human elites came out in a press conference after one month of “meetings” and announced they could not agree on ANY spending cuts, and that the debt spending could continue, with “potential cuts to defense” to take place December 2012.

So today our Federal National Debt clock is sitting at $16 trillion dollars, on its way to a “congressional approved” $16.5 trillion by the November election. Does anyone who is reading this think that somehow at the end of this year our congress will suddenly stop spending and start to bring this debt down? Of course not, on our current spending spree with a zero GDP projection we will be sitting at $20 trillion in national debt by late 2014, assuming our country has not descended into martial law.

But the Federal Debt is not the only debt that faces all of us every day. We have state, local, and personal debts in the form of mortgages, car loans, and student loans, not to mention credit cards and personal loans. According to the Federal Reserve that debt sits at $55 Trillion dollars today. Here is how that breaks down:

Title:               Total Credit Market Debt Owed
Series ID:           TCMDO
Source:              Board of Governors of the Federal Reserve System
Release:             Z.1 Flow of Funds Accounts of the United States
Seasonal Adjustment: Not Seasonally Adjusted
Frequency:           Quarterly, End of Period
Units:               Billions of Dollars
Date Range:          1949-10-01 to 2012-01-01
Last Updated:        2012-06-08 3:48 PM CDT
Notes:               This data comes from the Z.1 Flow of Funds release of the Board of Governors. This series appears in Table L.1. For further information
                     see the information provided in the guide to the Flow of Funds at

http://www.federalreserve.gov/apps/fof/.

DATE           VALUE
1949-10-01    397.58
1950-01-01         .
1950-04-01         .
1950-07-01         .
1950-10-01    425.38
1951-01-01         .
1951-04-01         .
1951-07-01         .
1951-10-01    449.34
1952-01-01    452.21
1952-04-01    461.14
1952-07-01    471.45
1952-10-01    484.70
1953-01-01    486.91
1953-04-01    494.47
1953-07-01    507.84
1953-10-01    516.70
1954-01-01    514.84
1954-04-01    520.27
1954-07-01    528.03
1954-10-01    541.81
1955-01-01    543.90
1955-04-01    554.27
1955-07-01    566.34
1955-10-01    582.03
1956-01-01    584.76
1956-04-01    589.83
1956-07-01    598.57
1956-10-01    611.49
1957-01-01    616.25
1957-04-01    620.11
1957-07-01    632.00
1957-10-01    642.70
1958-01-01    644.99
1958-04-01    654.01
1958-07-01    661.41
1958-10-01    681.55
1959-01-01    688.32
1959-04-01    704.92
1959-07-01    721.63
1959-10-01    738.75
1960-01-01    743.34
1960-04-01    755.16
1960-07-01    765.03
1960-10-01    780.25
1961-01-01    781.50
1961-04-01    792.75
1961-07-01    807.96
1961-10-01    828.55
1962-01-01    835.76
1962-04-01    852.28
1962-07-01    864.31
1962-10-01    888.18
1963-01-01    895.41
1963-04-01    915.16
1963-07-01    928.60
1963-10-01    954.18
1964-01-01    963.46
1964-04-01    984.77
1964-07-01   1001.84
1964-10-01   1028.51
1965-01-01   1041.66
1965-04-01   1063.25
1965-07-01   1078.10
1965-10-01   1106.85
1966-01-01   1123.10
1966-04-01   1148.02
1966-07-01   1161.89
1966-10-01   1187.26
1967-01-01   1196.98
1967-04-01   1208.93
1967-07-01   1231.55
1967-10-01   1267.95
1968-01-01   1285.60
1968-04-01   1311.09
1968-07-01   1336.57
1968-10-01   1372.91
1969-01-01   1390.12
1969-04-01   1417.51
1969-07-01   1449.15
1969-10-01   1490.61
1970-01-01   1507.27
1970-04-01   1535.69
1970-07-01   1561.45
1970-10-01   1599.56
1971-01-01   1618.76
1971-04-01   1656.61
1971-07-01   1697.48
1971-10-01   1749.54
1972-01-01   1780.42
1972-04-01   1821.11
1972-07-01   1862.67
1972-10-01   1933.55
1973-01-01   1988.91
1973-04-01   2051.98
1973-07-01   2108.58
1973-10-01   2170.75
1974-01-01   2210.79
1974-04-01   2281.71
1974-07-01   2346.00
1974-10-01   2407.98
1975-01-01   2435.15
1975-04-01   2483.79
1975-07-01   2534.30
1975-10-01   2616.33
1976-01-01   2669.38
1976-04-01   2742.10
1976-07-01   2812.59
1976-10-01   2904.06
1977-01-01   2970.46
1977-04-01   3064.22
1977-07-01   3166.80
1977-10-01   3291.72
1978-01-01   3384.30
1978-04-01   3511.54
1978-07-01   3626.67
1978-10-01   3776.28
1979-01-01   3871.55
1979-04-01   4002.01
1979-07-01   4144.63
1979-10-01   4273.69
1980-01-01   4386.80
1980-04-01   4462.63
1980-07-01   4578.33
1980-10-01   4722.38
1981-01-01   4825.66
1981-04-01   4967.57
1981-07-01   5121.71
1981-10-01   5255.05
1982-01-01   5332.25
1982-04-01   5466.48
1982-07-01   5603.42
1982-10-01   5766.80
1983-01-01   5883.77
1983-04-01   6064.76
1983-07-01   6254.47
1983-10-01   6462.89
1984-01-01   6645.11
1984-04-01   6907.32
1984-07-01   7138.31
1984-10-01   7422.53
1985-01-01   7644.99
1985-04-01   7905.19
1985-07-01   8178.93
1985-10-01   8612.04
1986-01-01   8788.27
1986-04-01   9112.72
1986-07-01   9422.06
1986-10-01   9801.48
1987-01-01   9999.10
1987-04-01  10290.60
1987-07-01  10535.67
1987-10-01  10814.81
1988-01-01  11011.12
1988-04-01  11285.88
1988-07-01  11530.17
1988-10-01  11856.27
1989-01-01  12114.01
1989-04-01  12331.26
1989-07-01  12538.35
1989-10-01  12830.00
1990-01-01  13063.31
1990-04-01  13283.16
1990-07-01  13495.40
1990-10-01  13757.07
1991-01-01  13860.51
1991-04-01  14007.89
1991-07-01  14175.78
1991-10-01  14412.35
1992-01-01  14573.46
1992-04-01  14772.87
1992-07-01  14995.46
1992-10-01  15204.04
1993-01-01  15366.73
1993-04-01  15629.65
1993-07-01  15938.06
1993-10-01  16280.19
1994-01-01  16534.03
1994-04-01  16764.11
1994-07-01  17029.37
1994-10-01  17373.91
1995-01-01  17617.95
1995-04-01  17930.22
1995-07-01  18214.48
1995-10-01  18604.16
1996-01-01  18894.04
1996-04-01  19234.22
1996-07-01  19548.55
1996-10-01  19922.64
1997-01-01  20177.46
1997-04-01  20492.49
1997-07-01  20834.01
1997-10-01  21329.86
1998-01-01  21796.74
1998-04-01  22312.50
1998-07-01  22767.68
1998-10-01  23413.96
1999-01-01  23978.24
1999-04-01  24374.88
1999-07-01  24971.41
1999-10-01  25476.13
2000-01-01  25857.52
2000-04-01  26228.53
2000-07-01  26649.84
2000-10-01  27208.12
2001-01-01  27829.24
2001-04-01  28169.35
2001-07-01  28736.25
2001-10-01  29388.56
2002-01-01  29884.94
2002-04-01  30430.65
2002-07-01  30983.18
2002-10-01  31900.13
2003-01-01  32480.62
2003-04-01  33247.49
2003-07-01  33897.81
2003-10-01  34702.60
2004-01-01  36099.87
2004-04-01  36856.83
2004-07-01  37640.45
2004-10-01  38681.79
2005-01-01  39481.83
2005-04-01  40325.25
2005-07-01  41044.65
2005-10-01  42136.22
2006-01-01  43149.65
2006-04-01  44146.14
2006-07-01  45067.46
2006-10-01  46173.82
2007-01-01  47354.22
2007-04-01  48389.00
2007-07-01  49762.26
2007-10-01  50897.60
2008-01-01  51674.93
2008-04-01  52143.76
2008-07-01  52913.73
2008-10-01  53284.87
2009-01-01  53596.46
2009-04-01  53387.36
2009-07-01  53267.15
2009-10-01  53188.74
2010-01-01  52695.54
2010-04-01  52663.51
2010-07-01  52973.43
2010-10-01  53396.72
2011-01-01  53606.14
2011-04-01  53544.20
2011-07-01  53890.07
2011-10-01  54243.01
2012-01-01  54584.05

But yet there is more. Has anyone heard of the term derivatives. Yes those evil toxic debts that the banks in 2008 stated caused the banking crisis that drove the world to its knees, and all of us ended up “bailing out”. Guess what, today the best guess of how much of this toxic debt still exists within banks, brokerages, mutual funds, retirement accounts, and other financial institutions is $1.2 QUADRILLION DOLLARS. Yes that is right over $1,200 trillion dollars in toxic debt that since 2008 has ONLY INCREASED in value not decreased as we were all told by our media. That number is 20 times larger than ALL OF THE ECONOMIES of every nation COMBINED.

Specifically, Paul Wilmott – who has written numerous books on the subject – estimated the number last year at $1.2 quadrillion:

The… derivatives market … is 20 times the size of the world economy.

***

According to one of the world’s leading derivatives experts, Paul Wilmott, who holds a doctorate in applied mathematics from Oxford University (and whose speaking voice sounds eerily like John Lennon’s), $1.2 quadrillion is the so-called notional value of the worldwide derivatives market. To put that in perspective, the world’s annual gross domestic product is between $50 trillion and $60 trillion.

I understand that the term derivatives is hard for many people to understand but just believe me when I tell you they are bad news for all us and our a form of further debt enslavement that is hanging over all of our heads when they go bad, and our government decide it is more important to keep the banks going then you, and use your future tax receipts to offset their bad derivative bets.

So how does this total $1.3 Quadrillion in debt hanging over our heads?

$1.2 Quadrillion in Deravitives

$55 Trillion in M1 total debt as defined by the Federal Reserve

$16 Trillion as published by the CBO.

Rounded up equals $1.3 Quadrillion.

How do you think this ends?

Have you seen in charts and graphs any improvements in reducing debt levels of any kind in the last 20 years? No, every type of debt has continued to increase over time no matter what lies and deception is being said by politicians, want to be politicians, government agents, bankers, and most of the media that continues to say “we are in a slowing economic recovery”.

Take a look:

Maybe it is time that we have serious conversations with our friends, families and others about what is coming, and how our government in its current form is designed to make this worse. Imagine what will happen when interest rates rise, and I guarantee you they will rise soon.