Fed Revises US Debt From 330% To 350% Of GDP After "Discovering" $2.7Trillion In Debt

[Vigilante]

Everyone has seen the chart of "Total Credit Market Instruments", which as of its most recent update on March 31, 2015, was just over $59 trillion, or 330% of US GDP.

For those who have not seen it, as well as for those who are familiar with this chart, take a long look, because this is the last update of this particular data series, pulled straight from the Fed's Z.1 Flow of Funds (section L.1), you will ever see.

So did the Fed spontaneously terminate the reporting of what until the second quarter's update of the Flow of Funds, was the most comprehensive official summary of Household, Financial, Corporate and Government debt in existence? And if so why?

Many Fed watchers assumed that this is precisely what happened, and indeed, searching high and low for the infamous L.1 Section revealed nothing.

We can only assume that the vocal outcry that emerged in the aftermath of the Fed's release of its Q2 Flow of Funds statement missing this most critical of data sets on September 18, was so loud that three weeks later, this past Friday on October 9, the Fed released an official follow up explanation what exactly happened.

Here is what happened to the missing so very critical data series, straight from the horse's mouth:....

Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After "Discovering" Another $2.7 Trillion In Debt | Zero Hedge

 

[tyroneweaver]

Our national debt scares the hell out of me. Someday it's all going to come crashing down. I pity the president that's in office, cause he'll get blamed.
When in fact it's everyone's fault from the politicians down to john q. public

 

[waltky]

Granny says we's already broke...

U.S. Faces ‘Guaranteed Financial Crisis’ in 11 Years
October 12, 2015 | -- Because of the national debt, interest payments on that debt, and entitlement spending as required by law, the United States will face a major financial crisis in 11 years, Rep. Dave Brat (R-Va.) said on NBC’s Meet the Press on Sunday.

“We have a guaranteed financial crisis coming up in law in 11 years,” Brat said in response to criticism of his and other conservative representatives’ apparent reluctance to compromise on some issues. “And we’re missing the American people,” Brat said. “Go poll the American people. You want to know my response? I follow the American people.” Early in the show, host Chuck Todd said to Brat, “Congressman Brat, let me start with you. You’re a member of the Freedom Caucus. What is it that you want, and what is it that Speaker Boehner, Kevin McCarthy, and Eric Cantor haven’t delivered?”

Brat said, “Right, well they all ran on A Pledge to America. And they, just like your 72% of the folks out there in the real world say, we make these promises when we run but then when we get up here, we’re called unrealistic by kind of the Washington establishment and the bubble up here.” “What we want is what the American people want,” said Brat. “We have $19 trillion in debt, $100 trillion in unfunded liabilities. All federal revenues will be spent in 11 years on just entitlement programs and interest on the debt.” “There will be not one dollar left for the military, education, transportation, and all of running government,” he said.

Later in the program, Brat spoke more about his view of an inevitable financial crisis in response to suggestions from talk-radio host Hugh Hewitt’s and Washington Post columnist Eugene Robinson’s that Brat and his conservative allies were unreasonable in their policy demands. Hewitt said to both Brat and Rep. Charlie Dent (R-Penn.), who was also on the program: “A pox on both your wings. I am very desperately hoping that Paul Ryan is praying about and [that he] accepts this, and here’s my question: Yesterday, a Russian jet was set down in Turkey. Yesterday, almost a hundred people were killed in Ankara, Turkey. The world is on fire.” “How dare you, with the American people waiting for leadership, paralyze the House? You both have to -- Charlie, you have to stop going on CNN and blasting David, and David there are like 15 of you people. The Freedom Caucus is like 15 people. Paul Ryan is liked by 225 Republicans. Get with the program, guys.” Brat replied, “How do you know we’re not on the program? I mean you’re doing pox…”

MORE

 

[Jomama]

Ahh, that was a great meal - hey kids, would you mind picking up the tab?

 

[waltky]

Real debt is closer to about $65 trillion...

Ex-GAO head: US debt is three times more than you think
November 07, 2015 - The former U.S. comptroller general says the real U.S. debt is closer to about $65 trillion than the oft-cited figure of $18 trillion.

Dave Walker, who headed the Government Accountability Office (GAO) under Presidents Bill Clinton and George W. Bush, said when you add up all of the nation’s unfunded liabilities, the national debt is more than three times the number generally advertised. “If you end up adding to that $18.5 trillion the unfunded civilian and military pensions and retiree healthcare, the additional underfunding for Social Security, the additional underfunding for Medicare, various commitments and contingencies that the federal government has, the real number is about $65 trillion rather than $18 trillion, and it’s growing automatically absent reforms,” Walker told host John Catsimatidis on “The Cats Roundtable” on New York’s AM-970 in an interview airing Sunday.
The former comptroller general, who is in charge of ensuring federal spending is fiscally responsible, said a burgeoning national debt hampers the ability of government to carry out both domestic and foreign policy initiatives. “If you don’t keep your economy strong, and that means to be able to generate more jobs and opportunities, you’re not going to be strong internationally with regard to foreign policy, you’re not going to be able to invest what you need to invest in national defense and homeland security, and ultimately you’re not going to be able to provide the kind of social safety net that we need in this country,” he said.
He said Americans have “lost touch with reality” when it comes to spending. Walker called for Democrats and Republicans to put aside partisan politics to come together to fix the problem. “You can be a Democrat, you can be a Republican, you can be unaffiliated, you can be whatever you want, but your duty of loyalty needs to be to country rather than to party, and we need to solve some of the large, known, and growing problems that we have,” he said.

Ex-GAO head: US debt is three times more than you think

 

[EdwardBaiamonte]

When in fact it's everyone's fault from the politicians down to john q. public

of course that's not true. Republicans have tried to make federal debt illegal in America 30 times since Jefferson's first attempt!!

 

[sealybobo]

Everyone has seen the chart of "Total Credit Market Instruments", which as of its most recent update on March 31, 2015, was just over $59 trillion, or 330% of US GDP.

For those who have not seen it, as well as for those who are familiar with this chart, take a long look, because this is the last update of this particular data series, pulled straight from the Fed's Z.1 Flow of Funds (section L.1), you will ever see.

So did the Fed spontaneously terminate the reporting of what until the second quarter's update of the Flow of Funds, was the most comprehensive official summary of Household, Financial, Corporate and Government debt in existence? And if so why?

Many Fed watchers assumed that this is precisely what happened, and indeed, searching high and low for the infamous L.1 Section revealed nothing.

We can only assume that the vocal outcry that emerged in the aftermath of the Fed's release of its Q2 Flow of Funds statement missing this most critical of data sets on September 18, was so loud that three weeks later, this past Friday on October 9, the Fed released an official follow up explanation what exactly happened.

Here is what happened to the missing so very critical data series, straight from the horse's mouth:....

Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After "Discovering" Another $2.7 Trillion In Debt | Zero Hedge

I just read the story about how 8.5 trillion went missing or can't be accounted for. Who lost it? The Pentagon.

I'm not going to worry about the debt. We should just do what corporations or Detroit did and go bankrupt. Sorry bankers. Sorry china. We can pay pennies on the dollar.

The dollar isn't backed by anything so who cares? Just be ready to survive the next crash. It's the one flaw with capitalism. There are booms and busts. Can you say under Republicans we would never have another recessions and that we would pay off the debt?

 

[Vigilante]

Everyone has seen the chart of "Total Credit Market Instruments", which as of its most recent update on March 31, 2015, was just over $59 trillion, or 330% of US GDP.

For those who have not seen it, as well as for those who are familiar with this chart, take a long look, because this is the last update of this particular data series, pulled straight from the Fed's Z.1 Flow of Funds (section L.1), you will ever see.

So did the Fed spontaneously terminate the reporting of what until the second quarter's update of the Flow of Funds, was the most comprehensive official summary of Household, Financial, Corporate and Government debt in existence? And if so why?

Many Fed watchers assumed that this is precisely what happened, and indeed, searching high and low for the infamous L.1 Section revealed nothing.

We can only assume that the vocal outcry that emerged in the aftermath of the Fed's release of its Q2 Flow of Funds statement missing this most critical of data sets on September 18, was so loud that three weeks later, this past Friday on October 9, the Fed released an official follow up explanation what exactly happened.

Here is what happened to the missing so very critical data series, straight from the horse's mouth:....

Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After "Discovering" Another $2.7 Trillion In Debt | Zero Hedge

I just read the story about how 8.5 trillion went missing or can't be accounted for. Who lost it? The Pentagon.

I'm not going to worry about the debt. We should just do what corporations or Detroit did and go bankrupt. Sorry bankers. Sorry china. We can pay pennies on the dollar.

The dollar isn't backed by anything so who cares? Just be ready to survive the next crash. It's the one flaw with capitalism. There are booms and busts. Can you say under Republicans we would never have another recessions and that we would pay off the debt?

State Dept. misplaced $6B under Hillary Clinton: IG report ...
www.washingtontimes.com/.../state-dept-misplace...
The Washington Times
Apr 4, 2014 - The State Department misplaced and lost some $6 billion due to the improper filing of contracts during the past six years, mainly during the tenure of former Secretary of State Hilary Clinton, according to a newly released Inspector General report. The $6 billion in unaccounted ...

 

[gipper]

Our national debt scares the hell out of me. Someday it's all going to come crashing down. I pity the president that's in office, cause he'll get blamed.
When in fact it's everyone's fault from the politicians down to john q. public

I accept no blame for this and you shouldn't either. The debt is the result of corrupt lying thieving pols in both parties, who have consciously ignored their oath of office.

 

[sealybobo]

Everyone has seen the chart of "Total Credit Market Instruments", which as of its most recent update on March 31, 2015, was just over $59 trillion, or 330% of US GDP.

For those who have not seen it, as well as for those who are familiar with this chart, take a long look, because this is the last update of this particular data series, pulled straight from the Fed's Z.1 Flow of Funds (section L.1), you will ever see.

So did the Fed spontaneously terminate the reporting of what until the second quarter's update of the Flow of Funds, was the most comprehensive official summary of Household, Financial, Corporate and Government debt in existence? And if so why?

Many Fed watchers assumed that this is precisely what happened, and indeed, searching high and low for the infamous L.1 Section revealed nothing.

We can only assume that the vocal outcry that emerged in the aftermath of the Fed's release of its Q2 Flow of Funds statement missing this most critical of data sets on September 18, was so loud that three weeks later, this past Friday on October 9, the Fed released an official follow up explanation what exactly happened.

Here is what happened to the missing so very critical data series, straight from the horse's mouth:....

Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After "Discovering" Another $2.7 Trillion In Debt | Zero Hedge

I just read the story about how 8.5 trillion went missing or can't be accounted for. Who lost it? The Pentagon.

I'm not going to worry about the debt. We should just do what corporations or Detroit did and go bankrupt. Sorry bankers. Sorry china. We can pay pennies on the dollar.

The dollar isn't backed by anything so who cares? Just be ready to survive the next crash. It's the one flaw with capitalism. There are booms and busts. Can you say under Republicans we would never have another recessions and that we would pay off the debt?

State Dept. misplaced $6B under Hillary Clinton: IG report ...
www.washingtontimes.com/.../state-dept-misplace...
The Washington Times
Apr 4, 2014 - The State Department misplaced and lost some $6 billion due to the improper filing of contracts during the past six years, mainly during the tenure of former Secretary of State Hilary Clinton, according to a newly released Inspector General report. The $6 billion in unaccounted ...

And I can show you how just as much went missing under George W Bush so don't give me that s*** you know they're both in on it they're all in on it the only one who's not is Ron Paul and I can't even stand the guy but at least he's being honest about that. I don't think it matters there's going to be another crash and boom and they're going to repeat like a pendulum because thats how capitalism works apparently

 

[Vigilante]

Everyone has seen the chart of "Total Credit Market Instruments", which as of its most recent update on March 31, 2015, was just over $59 trillion, or 330% of US GDP.

For those who have not seen it, as well as for those who are familiar with this chart, take a long look, because this is the last update of this particular data series, pulled straight from the Fed's Z.1 Flow of Funds (section L.1), you will ever see.

So did the Fed spontaneously terminate the reporting of what until the second quarter's update of the Flow of Funds, was the most comprehensive official summary of Household, Financial, Corporate and Government debt in existence? And if so why?

Many Fed watchers assumed that this is precisely what happened, and indeed, searching high and low for the infamous L.1 Section revealed nothing.

We can only assume that the vocal outcry that emerged in the aftermath of the Fed's release of its Q2 Flow of Funds statement missing this most critical of data sets on September 18, was so loud that three weeks later, this past Friday on October 9, the Fed released an official follow up explanation what exactly happened.

Here is what happened to the missing so very critical data series, straight from the horse's mouth:....

Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After "Discovering" Another $2.7 Trillion In Debt | Zero Hedge

I just read the story about how 8.5 trillion went missing or can't be accounted for. Who lost it? The Pentagon.

I'm not going to worry about the debt. We should just do what corporations or Detroit did and go bankrupt. Sorry bankers. Sorry china. We can pay pennies on the dollar.

The dollar isn't backed by anything so who cares? Just be ready to survive the next crash. It's the one flaw with capitalism. There are booms and busts. Can you say under Republicans we would never have another recessions and that we would pay off the debt?

State Dept. misplaced $6B under Hillary Clinton: IG report ...
www.washingtontimes.com/.../state-dept-misplace...
The Washington Times
Apr 4, 2014 - The State Department misplaced and lost some $6 billion due to the improper filing of contracts during the past six years, mainly during the tenure of former Secretary of State Hilary Clinton, according to a newly released Inspector General report. The $6 billion in unaccounted ...

And I can show you how just as much went missing under George W Bush so don't give me that s*** you know they're both in on it they're all in on it the only one who's not is Ron Paul and I can't even stand the guy but at least he's being honest about that. I don't think it matters there's going to be another crash and boom and they're going to repeat like a pendulum because thats how capitalism works apparently

Is "W" running for President....I REST MY CASE!

 

[sealybobo]

And still Republican voters vote to increase defense spending?

And then they nickle and dime us poor people and say corporations shouldn't pay taxes? Like GE? Or haloburton, who I bet isn't even hq in the USA. Check it out. It's true

 

[HereWeGoAgain]

And liberals wonder why Cruz and Trump are getting so much traction....

 

[CrusaderFrank]

...but we don't need audit the Fed, right?

 

[CrusaderFrank]

Trump is right, the Fed is going to hand him the biggest collapse in world history

 

[Vigilante]

And still Republican voters vote to increase defense spending?

And then they nickle and dime us poor people and say corporations shouldn't pay taxes? Like GE? Or haloburton, who I bet isn't even hq in the USA. Check it out. It's true

Yes, Perhaps a muslim terrorist, thay you, STUPIDLY LOVE, won't get to America...you ANTI-American!... AND if "haloburton" (LOLOL!) is HQ'd over sea's perhaps, as TRUMP HAS STATED, we DROP the tax rate on overseas CORPS from 40% to 10% ALL THOSE TRILLIONS of $$$$$$ would come back to America and do THIS COUNTRY some good instead of FOREIGN COUNTRIES.... Sounds right to me, but then again, I'm dealing with STUPIDLY!

 

[sealybobo]

Everyone has seen the chart of "Total Credit Market Instruments", which as of its most recent update on March 31, 2015, was just over $59 trillion, or 330% of US GDP.

For those who have not seen it, as well as for those who are familiar with this chart, take a long look, because this is the last update of this particular data series, pulled straight from the Fed's Z.1 Flow of Funds (section L.1), you will ever see.

So did the Fed spontaneously terminate the reporting of what until the second quarter's update of the Flow of Funds, was the most comprehensive official summary of Household, Financial, Corporate and Government debt in existence? And if so why?

Many Fed watchers assumed that this is precisely what happened, and indeed, searching high and low for the infamous L.1 Section revealed nothing.

We can only assume that the vocal outcry that emerged in the aftermath of the Fed's release of its Q2 Flow of Funds statement missing this most critical of data sets on September 18, was so loud that three weeks later, this past Friday on October 9, the Fed released an official follow up explanation what exactly happened.

Here is what happened to the missing so very critical data series, straight from the horse's mouth:....

Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After "Discovering" Another $2.7 Trillion In Debt | Zero Hedge

I just read the story about how 8.5 trillion went missing or can't be accounted for. Who lost it? The Pentagon.

I'm not going to worry about the debt. We should just do what corporations or Detroit did and go bankrupt. Sorry bankers. Sorry china. We can pay pennies on the dollar.

The dollar isn't backed by anything so who cares? Just be ready to survive the next crash. It's the one flaw with capitalism. There are booms and busts. Can you say under Republicans we would never have another recessions and that we would pay off the debt?

State Dept. misplaced $6B under Hillary Clinton: IG report ...
www.washingtontimes.com/.../state-dept-misplace...
The Washington Times
Apr 4, 2014 - The State Department misplaced and lost some $6 billion due to the improper filing of contracts during the past six years, mainly during the tenure of former Secretary of State Hilary Clinton, according to a newly released Inspector General report. The $6 billion in unaccounted ...

And I can show you how just as much went missing under George W Bush so don't give me that s*** you know they're both in on it they're all in on it the only one who's not is Ron Paul and I can't even stand the guy but at least he's being honest about that. I don't think it matters there's going to be another crash and boom and they're going to repeat like a pendulum because thats how capitalism works apparently

Is "W" running for President....I REST MY CASE!

Hw, gw, Jeb, Christie, Cruz, rubio, carson, carli no difference.

Actually hw bush turned out to be great in comparison to the modern GOP. You guys aren't coming around you're doubling down on stupid.

I believe the GOP likes busts because they cry during the booms

 

[sealybobo]

And still Republican voters vote to increase defense spending?

And then they nickle and dime us poor people and say corporations shouldn't pay taxes? Like GE? Or haloburton, who I bet isn't even hq in the USA. Check it out. It's true

Yes, Perhaps a muslim terrorist, thay you, STUPIDLY LOVE, won't get to America...you ANTI-American!... AND if "haloburton" (LOLOL!) is HQ'd over sea's perhaps, as TRUMP HAS STATED, we DROP the tax rate on overseas CORPS from 40% to 10% ALL THOSE TRILLIONS of $$$$$$ would come back to America and do THIS COUNTRY some good instead of FOREIGN COUNTRIES.... Sounds right to me, but then again, I'm dealing with STUPIDLY!

Or like china the corporations play by our rules?

Or tax them 50% if they don't come back.

If coca cola doesn't like it I'm sure another American can figure out how to make something similar.

 

[Vigilante]

Everyone has seen the chart of "Total Credit Market Instruments", which as of its most recent update on March 31, 2015, was just over $59 trillion, or 330% of US GDP.

For those who have not seen it, as well as for those who are familiar with this chart, take a long look, because this is the last update of this particular data series, pulled straight from the Fed's Z.1 Flow of Funds (section L.1), you will ever see.

So did the Fed spontaneously terminate the reporting of what until the second quarter's update of the Flow of Funds, was the most comprehensive official summary of Household, Financial, Corporate and Government debt in existence? And if so why?

Many Fed watchers assumed that this is precisely what happened, and indeed, searching high and low for the infamous L.1 Section revealed nothing.

We can only assume that the vocal outcry that emerged in the aftermath of the Fed's release of its Q2 Flow of Funds statement missing this most critical of data sets on September 18, was so loud that three weeks later, this past Friday on October 9, the Fed released an official follow up explanation what exactly happened.

Here is what happened to the missing so very critical data series, straight from the horse's mouth:....

Fed Quietly Revises Total US Debt From 330% To 350% Of GDP, After "Discovering" Another $2.7 Trillion In Debt | Zero Hedge

I just read the story about how 8.5 trillion went missing or can't be accounted for. Who lost it? The Pentagon.

I'm not going to worry about the debt. We should just do what corporations or Detroit did and go bankrupt. Sorry bankers. Sorry china. We can pay pennies on the dollar.

The dollar isn't backed by anything so who cares? Just be ready to survive the next crash. It's the one flaw with capitalism. There are booms and busts. Can you say under Republicans we would never have another recessions and that we would pay off the debt?

State Dept. misplaced $6B under Hillary Clinton: IG report ...
www.washingtontimes.com/.../state-dept-misplace...
The Washington Times
Apr 4, 2014 - The State Department misplaced and lost some $6 billion due to the improper filing of contracts during the past six years, mainly during the tenure of former Secretary of State Hilary Clinton, according to a newly released Inspector General report. The $6 billion in unaccounted ...

And I can show you how just as much went missing under George W Bush so don't give me that s*** you know they're both in on it they're all in on it the only one who's not is Ron Paul and I can't even stand the guy but at least he's being honest about that. I don't think it matters there's going to be another crash and boom and they're going to repeat like a pendulum because thats how capitalism works apparently

Is "W" running for President....I REST MY CASE!

Hw, gw, Jeb, Christie, Cruz, rubio, carson, carli no difference.

Actually hw bush turned out to be great in comparison to the modern GOP. You guys aren't coming around you're doubling down on stupid.

I believe the GOP likes busts because they cry during the booms

Stock market WENT FROM 17,800 something on the end of Dec. 2014 to 17,425 on the end of trading Dec. 2015.... It was a LOSER after a year of trading under Obuma!

 

[Vigilante]

And still Republican voters vote to increase defense spending?

And then they nickle and dime us poor people and say corporations shouldn't pay taxes? Like GE? Or haloburton, who I bet isn't even hq in the USA. Check it out. It's true

Yes, Perhaps a muslim terrorist, thay you, STUPIDLY LOVE, won't get to America...you ANTI-American!... AND if "haloburton" (LOLOL!) is HQ'd over sea's perhaps, as TRUMP HAS STATED, we DROP the tax rate on overseas CORPS from 40% to 10% ALL THOSE TRILLIONS of $$$$$$ would come back to America and do THIS COUNTRY some good instead of FOREIGN COUNTRIES.... Sounds right to me, but then again, I'm dealing with STUPIDLY!

Or like china the corporations play by our rules?

Or tax them 50% if they don't come back.

If coca cola doesn't like it I'm sure another American can figure out how to make something similar.

Perhaps you want us to go to WAR with China, sounds just like it LIBERAL WAR HAWK!