I recently found this wonderful little gadget called US debt clock.
Don´t know who set that up, but it must be backed by real economic data, at least to some extent. Well, talking about public debt doesn´t lead anywhere, it is more interesting to look at total debt. That is some 180.000 USD per citizen in that model. But in every balance sheet, there is an asset side. That is positive at some 246.000 USD per citizen. So every citizen in the US, from infant to grandma actually has a surplus of 66.000 USD. Isn´t that nice?
If you keep looking at the numbers in that fancy gadget, you will notice that the total debt will rise and the total asset figure will drop. Total debt rises at a rate of just about 1 USD/citizen every 3 hours. Total assets deteriorate at a rate of 1 USD/citizen every 45 minutes, almost 4 times as fast.
In one year 3.000 USD will be added to the total debt, but 11.000 USD will be taken from the assets. Very dangerous situation. While sitting on your chair to read this, that same chair is falling apart (Asset deterioration means there are less chairs produced than get broken).
May be the US debt clock is fantasy, but i knew that the US had a negative investment rate and that coincides. This not good for anyone, not good for the US and not good for the world. Or am i off track?
by Brenda Trott, M.Ed5 years ago
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Do you think this will happen?http://www.dailymail.co.uk/news/worldne … e-GDP.html
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