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

[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.

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

Your reply has nothing to do with what I said.

I don't even want to repeat my points to you. I see it's pointless

 

[sealybobo]

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!

Oh no! Impeach him! Breaking news! The rich will never rebound from this! We better cut there taxes more, huh?

 

[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!

Your reply has nothing to do with what I said.

I don't even want to repeat my points to you. I see it's pointless

So YOU REALLY DO WANT TO START A WAR WITH CHINA!!! NICE!

 

[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.

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

Your reply has nothing to do with what I said.

I don't even want to repeat my points to you. I see it's pointless

So YOU REALLY DO WANT TO START A WAR WITH CHINA!!! NICE!

Your caplock is on.

 

[boedicca]

This is yet another example of why we shouldn't believe the stats produced by the government.

They cook the books on the Debt, Unemployment, Inflation, Census....

 

[Vigilante]

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!

Oh no! Impeach him! Breaking news! The rich will never rebound from this! We better cut there taxes more, huh?

YOU brought up IMPEACHMENT....Not now, he's the BEST THING WE HAVE AGAINST the Hildebeast's INSANE policies which is following his!

 

[Vigilante]

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!

Your reply has nothing to do with what I said.

I don't even want to repeat my points to you. I see it's pointless

So YOU REALLY DO WANT TO START A WAR WITH CHINA!!! NICE!

Your caplock is on.

I DO IT TO ANNOY LOW IQ'D LEFTISTS!

 

[ScienceRocks]

4 billion dollars in nation building in the middle east. For what?
Huge tax cuts costing trillions and trillions. Hasn't grown our economy and never will.
Healthcare system that is utter shit that is costing our economy a ton

And yet you losers want to cut everything that strengthens our economy??? Please do not use our roads anymore as they cost MONEY. Please don't use our storm warmings as I am sure the south relies greatly on them!!! They cost MONEY. Please don't slam China or Mexico for having crappy water, air and food anymore as you're a hypocrite. You'll gladly get rid of all regulations and laws making it so.

The next time you blame Obama for us trailing china in Science or Norway in education. Tell yourself, what are you doing to change this?

Time to face up to reality.

 

[baileyn45]

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?

The strangest part is who we owe.

Which agencies own the most Treasuries? Social Security, by a long shot. Here's the detailed breakdown (as of September 30, 2015):

• Social Security (Social Security Trust Fund and Federal Disability Insurance Trust Fund) - $2.808 trillion
• Office of Personnel Management Retirement - $798 billion
• Military Retirement Fund - $531 billion
• Medicare (Federal Hospital Insurance Trust Fund, Federal Supplementary Medical Insurance Trust Fund) - $266 billion

• All Other Retirement Funds - $120 billion
• Cash on Hand to Fund Federal Government Operations - $504 billion. (Source: Treasury Bulletin, Monthly Treasury Statement, Table 6. Schedule D-Investments of Federal Government Accounts in Federal Securities, September 2015)

Debt Held by the Public - Foreign governments and investors hold nearly half of the nation's public debt. One-fourth is held by other governmental entities, like the Federal Reserve, and state and local governments. Fifteen percent is held by mutual funds, private pension funds, savings bonds or individual Treasury notes. The rest is held by businesses, like banks and insurance companies, and a mish-mash of trusts, businesses and investors.

• Her's the breakout:

• Foreign - $6.176 trillion
• Federal Reserve - $2.394 trillion
• Mutual Funds - $1.235 trillion
• State and Local Government, including their pension funds - $710 billion
• Private Pension Funds - $481 billion
• Banks - $511 billion
• Insurance Companies - $295 billion
• U.S. Savings Bonds - $175 billion
• Other (individuals, government-sponsored enterprises, brokers and dealers, bank personal trusts and estates, corporate and non-corporate businesses, and other investors) - $834 billion. (Sources: Federal Reserve, Factors Affecting Reserve Balance, November 27, 2015. Treasury Bulletin, Ownership of Federal Securities, Table OFS-2, as of March 2015)

This debt is not only in Treasury bills, notes, and bonds but also TIPS and special State and Local Government Series securities.

As you can see, if you add up debt held by Social Security, and all the retirement and pension funds, nearly half of the U.S. Treasury debt is held in trust for your retirement. If the United States defaults on its debt, foreign investors would be angry, but current and future retirees would be hurt the most.