F Dominicus Blog

A politically incorrect blog about matters of money, government, bureaucracy, freedom and sometimes something else.

Small extension to my last blog (the financial tsunami)

Well it seems I'm not wrong: http://www.ortneronline.at/?p=20597

The "social security system" . It's maybe a misnomer. It probably should be the state promised poverty bomb. The official debts are 16 trillions. Now the social "security" alone should cost hat much... Guess that the peinsion promised have not yet counted also.

So the debts are not "just!" 16 trillions but probably more above 50 trillions. Now the world gross product is around 74.540.000 (2010) (see e.g http://www.welt-auf-einen-blick.de/wirtschaft/bsp-absolut.php) Millons that are roughly 74 trillions. So the USA alons hold official and inofficial debts around the world production. I guess this is a "little" bit too much for just 350 millons americans.

The US sucks in money and emits more debt that any other nation in the world. I guess that means the US will default not to far soon in the future.