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re: Global debt at worst levels since the Napoleonic Wars
Posted on 5/1/24 at 1:05 pm to TigersBucs
Posted on 5/1/24 at 1:05 pm to TigersBucs
quote:
So Joe is responsible for all the other country's debt too? That's stupid if you believe that.
its easier if you just let them think what they want is true.
0
Posted on 5/1/24 at 1:12 pm to DesScorp
So who is going to come collect?
Posted on 5/1/24 at 1:16 pm to DesScorp
The average American mortgage is around $250K. The average income of American home owners is around $107K last year. This means the average homeowner, if their mortgage is their only debt, is close to 2.5 more than their income. The nation over all is at what, 2 times more? Its all about perspective. Most of the nations debt is owed to folks with 401Ks. About 70% of it is owed to Americans who loaned the money to the US because it is, was and will be for the foreseeable future, the safest investment available. The debt is bad...compared to the nations income it is far better than most families....and compared to the collective wealth of the US? It ain't nearly as bad as any family I ever knew. Its all about perspective. The number is massive..tolo big to wrap your head around...but in comparison to what individuals owe compared to income and their wealth it is miniscule as a %.....
Posted on 5/1/24 at 1:23 pm to Saunson69
quote:
How can the world be 100% of GDP in debt? Like seems to me if everyone owes someone.... there's got to be someone who isn't? Seems like a net zero kind of things to me. Like someone has to be the giver of the debt and be at a surplus?
About 70% of US debt is owed to investors who hold that debt in their retirement accounts. Those investors CERTAINLY, almost universally, owe someone if not many someone's in the form of mortgage holders and auto loans etc.
Posted on 5/1/24 at 1:28 pm to DesScorp
In 2022 the gross national income...income....was $26 trillion.
The nations debt was $31 Trillion.
That would be akin to earning $100k a year and the only debt you had would be the $116k you owe on your home. Most people would consider anyone in that little debt compared to income in pretty good shape. They'd be in FAR better shape than the average American.....
The nations debt was $31 Trillion.
That would be akin to earning $100k a year and the only debt you had would be the $116k you owe on your home. Most people would consider anyone in that little debt compared to income in pretty good shape. They'd be in FAR better shape than the average American.....
Posted on 5/1/24 at 1:34 pm to DesScorp
quote:
World Economic Forum
So the same people telling us we will own nothing and be happy… suspicious, who is benefiting from all this?
Posted on 5/1/24 at 1:36 pm to DesScorp
We are about to free the frick out of somebody's arse. Anyone can get it, too.
Posted on 5/1/24 at 1:40 pm to Jebadeb
quote:
So who is going to come collect?
Almost everyone with a 401k is going to come to collect when they retire and the money is as sound as money can get. 70% of it is debt that Americans loaned to their government because it is, was and will be for the foreseeable future the best place to put money if you can't afford to lose it.
Posted on 5/1/24 at 1:57 pm to BigBinBR
quote:
Way too much debt. But the person who made the graph has an agenda. They note that China’s debt is issued by local government to fund infrastructure. Then it should also note that ~70% of our debt is to the US public.
They have an agenda and the public is prone to misunderstanding because the number is too big to conceptualize. It would seem from some of the posts when the debt is the topic that the money has vanished into the ether. Almost ALL of the debt racked up around the world, at least in the first world, is similar in nature to having a mortgage on a home. It is a bad business decision to use YOUR money when you have people who need a safe place to place THEIR money and the safest places on the planet are in first world economies. It'd be nice to buy a house with cash.....but it is not a sound financial decision to tie that much cash up into one basket. At times it is entirely possible to pay less for the mortgage than the money can make in almost risk free investments. It is almost always the case that the money is needed for more immediate needs.
Thats what people are thinking....the nation has a massive debt...it does indeed...and in the same second they forget that they themselves are, most likely, in far worse shape debt wise than the nation. There is a reason consumers pay what, 7% for an auto loan and the nation pays what, 1% on a bond? Half that at times? Its all about risk. The consumer is risky, the nation ain't close....
Posted on 5/1/24 at 1:58 pm to North Dallas Tiger
quote:
To whom, might I ask, are these debts owed...
Just kidding, I already know...
Do you?
I know who is owed about 70% of it. Most of are in that 70%.
Posted on 5/1/24 at 2:30 pm to AwgustaDawg
quote:
Most of the nations debt is owed to folks with 401Ks
Can you explain what you mean by this?
Posted on 5/1/24 at 3:00 pm to GRTiger
quote:
Can you explain what you mean by this?
Almost all retirement accounts hold some form of investment in US government issued securities.
Posted on 5/1/24 at 3:06 pm to AwgustaDawg
What portion of the 38 trillion held in retirement accounts are for US treasuries?
Posted on 5/1/24 at 3:08 pm to AwgustaDawg
You keep saying "most" though, and that's not true.
Posted on 5/1/24 at 3:09 pm to DesScorp
Looks like Isreal is in much better position than we are to fund their wars.
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