Comment 28155

By David (anonymous) | Posted January 12, 2009 at 15:38:08

Candide - not preaching or wishing, but a realization of the kind of insanity that existed. One Trillion Dollar$ is a stack of bills laying flat 70,000 miles high. (You do the kilometer math). The US public and private debt is over $50T and growing by the second - 3.5 million mile stack of bills - 15 times the distance to the Moon. This is how Empires end.

Since the Pilgrims landed, everything that was ever done in the US until 1974 happened within $1T of money stock. The last $1T was added in 3 months. Soon, 3 hours? The exponential function, especially as it relates to the (not)Federal(no)Reserve System is not well understood.

After Depression I, the US could still supply all it's own oil, and the Industrial Revolution was still ahead - the Isolationism of the time allowed the greatest build-up of prosperity in history. But even before this Depression started, the last vestige of US big industry was on bottled oxygen. The Unions have lost to bowl of rice/day workers elsewhere and $29 VCRs. And the rest of the world is now losing due to the end of US credit-card consumerism. We at one time just had to drop to their level to compete, but now they are a moving target. The main US export product was Dollar bills, but now they are broke.

I personally don't go so far as to say this will end in a world of Mad Max, but I do expect "Little House on the Prairie".

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