Debt Rattle October 26 2017
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Salvador Dalí Living still life 1956 • The Current Bond Bull Market Is The Longest In More Than 500 Years (BI) • Get Ready For A ‘Substantial’
[See the full post at: Debt Rattle October 26 2017]“Our country is broke,” says Kotlikoff, who estimates total US government debts at more than $200 trillion, when unfunded liabilities are included. “We are in worse shape than Russia, China or any developed nation.”
There’s a lot of humor out there (if one doesn’t get too serious) and Kotlikoff’s statement gave me just short of a belly laugh.
Russia is just fine. Elvira Nabulina, the finance minister, has done an incredible job with Russia’s economy. For starters, she crushed inflation from 10+% to the present 2.8% in a period of roughly 3 years. Russia’s cash reserves are in excees of $400 billion and gold at 1,800 tons and counting. Their debt to GDP is 17%…17%!!! Do you get that? It’s the main reson GDP doesn’t mean squat, when it comes to comparitive economies. A very important point, not often spoken too, much less considered…
The idiotic US sanctions were the greatest gift the US could have bestowed on Russia.
Their (sanctions) killing the EU, but hey, who cares; the US rules, no?
NO!!!!!!!! They most assuredly no longer do, in fact.
My profound sympathies to those Usian’s still blinded by the light; it went out over a decade ago!total US government debts at more than $200 trillion
So what? Who is going to send debt collectors to the US government?
“You may have all the money, Raymond, but I have all the men with guns.” Frank Underwood, House of CardsWe were never going to pay it, why would we pay it now? All we need is someone to blame.
In a debt-system, there is no money, only power.
V Arnold
Elvira Nabiullina is the central bank governor, not finance minister
Thanks Ilargi, I actually knew that but mis-spoke due to a senior moment. 😉
I re-read your linked article; double plus good.
My spelling of Elvira Nabiullina’s name was another cock-up; but I got the numbers correct…Nabiullina sure is great. You don’t get “Central Banker of the Year” title for nothing. From the Financial Times – a big proponent of globalization. And then she won “Central Bank Governor of the Year”, of course. If Lord Rothermere himself thinks she’s good who would dare to disagree. Russians are so lucky!
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