⌛ US Debt-Clock (It's scary!)

U.S. National Debt Clock : Real Time

haven't found a similar one yet for Europe

Wondering if they come to an agreement on time and a solution to slow the clock down! What will happened to the world if not?

How will the exchange rate be affected! I heard the USD will dive rock bottom!

2007 I got for 1 CHF - 35 PHP now in 2011, I get for 1 CHF - 52 PHP plus 48% for the CHF

2007 I got for 1 USD - 1.15 CHF now in 2011, I get for 1 USD - 0.82 CHF plus 29% for the CHF

2007 I got for 1 EUR - 1.65 CHF now in 2011, I get for 1 EUR - 1.17 CHF plus 29% for the CHF

 

Doomed

Lets face it, we are are all Doomed.
That is the Whole thing , about this Norway thing. NO! one, listens,
Here in PI, they say, Power to the People. mmmm I wonder?

Jack P.

 

Sure thing "Power to the People" but not to "Everybody" the Elite will always be the Elite and hold the Power

 

IMHO, It's all planned. It's a controlled demolition of all the worlds economies and all the worlds fiat currencies all at the same time.

 

It's a good thing I don't have any $ or I could loose a lot LOL!

Seriously it may hurt for a bit but we will all survive. I just need to hurry and get my chicken ranch, Goat Farm, Fish pond and Aquaponic garden all setup. Anyone want to lend me about a Million Peso? LOL

 

agggggghhhhhhhhhhhh the Interest!

Tom! Think of the Interest,

I am sure you are right about surviving, I have to Admit, that I wait with hope, all will be well in the end. To-day the € sits at 1.08 to the £. down from 1.45, 18 months ago. not sure about the $ but the £ & € are taking a world wide battering. Earning £'s and Spending €'s is costing a Fortune, then when I send money home it costs again, I really do hope it will even out soon. survive YES! but I would sooner live a little.


BTW Tom, I hope you have settled in to Dgte well now, sounds like you have some interesting projects afoot


Jack P.

 

What a thought!

Manz, I am beginning to think you are right. To a degree of course, it is working. Like Bookies, have you ever, met a Poor Banker?
Now there is, Food for thought.

Jack P.

 

The problem is that they are not trying to slow the clock down. They want to INCREASE the debt limit for god's sake!

At the end of work today, I was looking at the debt history of Western nations for the last dozen years, and ALL of them have steadily increased the debt level over that time. No-one is trying to reduce their debt.

At least the UK has been working at reducing it's spending by trying to reduce the massive public sector bill.
What I am missing from the US side is a similar understanding that government spending is the problem, and must be cut.
If the US and the other countries don't wake up to that fact, then our kids and grandkids are going to either have sh*t lives, or they are going to rebel!

I hate politicians! There, I said it.

 

USA are in danger of loosing its triple A credit dept thingy.
If it don't cut its deficit in 8 days time.

 

Jim, the scary part is, it's not the deficit they are trying to agree to cut; they are actually trying to agree to increase the maximum debt level!!
If they don't agree to that, then the US will be in default, and the world markets will come crashing down once again!
But not only that, if they don't agree to increase the maximum allowed debt level, they will not be able to pay their bills. That means that every cheque that is issued by the federal government will not be processed.
I do hope that doesn't affect US retirees!

The AAA credit rating is a separate issue, but also another important one, and this will probably be lost in the next few days if the US politicians don't hurry up and pull their fingers out of their arses!
If the credit rateing is reduced, then that means the interest the US pays on its debt will be dramatically increased. Which will mean the debt will get bigger!
Absolutely effing insane that the US got itself into this mess!