Crash Positions
Well, folks, we’re here.
Over the past decade I’ve written a few essays on the coming economic collapse of the USA. I noted in 2013 that the on-book national debt was an estimated $16 Trillion. The actual debt using Generally Accepted Accounting Principles (GAAP), which includes all off-book obligations (promises of future payments such as Social Security, government retirement accounts, Medicare A & B, et.al.) was $238 Trillion. Today the on-book debt is $30.3 Trillion, not quite double what it was when I last wrote about this. We can reasonably assume the total debt according to GAAP is similarly doubled, all in at $450 Trillion.
HOW does one mentally conceive of such numbers? I’ll put it in simple terms; if you printed 450 trillion $1 bills, they would create a layer of paper covering the entire planet that’s ½” thick.
More @ Capitalist Eric
Source: https://freenorthcarolina.blogspot.com/2022/04/crash-positions.html
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