Number of the Week: $10.2 Trillion in Global Borrowing

[mrjarrell]

Yikes! Just where do these people think this money is going to come from? They've lived off of debt and now the bills are coming due. Are we going to be looking at global inflation, as governments print more and more money to cover these debts? Or are we going to look at tax slavery? This is only going to get worse and no-one is going to be immune from the consequences of these governments irresponsibility.

Number of the Week: $10.2 Trillion in Global Borrowing - Real Time Economics - WSJ

 

[ATOMonkey]

More than likely a collapse of fiat currency.

It'll be up to the people to determine what happens after that.

 

[Kirk Freeman]

Years ago, pre-9/11, I was taking a class at the Chapman Academy in Missouri. Two of my fellow classmates were FBI agents from . . . let's call it the "Office of Planning and Research". At lunch one day they reported that the feds were planning for a insurrection based upon tax riots.

I'll never forget their completely straight-faced, deadpan faces when they were discussing the tipping point as tax rates approached 100% to support the swelling welfare state.

 

[ATOMonkey]

It seems that people employed by the executive branch of government aren't nearly as adverse to authoritarian government as the rest of us.

If it's good for them, why wouldn't it be good for everyone to be employed by Uncle Sugar?

 

[Liberty's Teeth]

Another interesting link on that page is that U-6 Unemployment is over 17%. I love the gubments definition of those who are "unemployed". For those of you that don't know what U-6 unemployment is, it is the number of workers "actively seeking employment" (the number they report as 9.6%) plus people who need full time work and are working part time. Once these workers stop looking for work and run out of benefits they just disappear off of the roles altogether. Real unemployment is approaching 23%. Check out shadowstats.com for some real numbers on the economy. Forget about the propaganda you hear and see in the media.