One Major Shock Event Away . . . .

[errolanderson]

Here are some economic debt figures that may help put the overall U.S. debt picture in perspective.
One major shock event could now quickly tip-over this debt-mired applecart (IMO). 

U.S. National Debt: $20.37 trillion

U.S. GDP: $19.35 trillion

U.S. Federal Spending: $4 trillion

U.S. Federal Revenue: $3.32 trillion 

U.S. Federal Budget Deficit: $690 billion 

Private Credit Card Debt: $1.021 trillion

Private Student Loan Debt: $1.47 trillion

Private Mortgage Debt: $14.755 trillion

Total Private Personal Debt: $18.54 trillion

U.S. Total Debt: $67.92 trillion

U.S. Unfunded Liabilities: $107.78 trillion

Liabilities Per Taxpayer: $893,304

Savings per Family: $6,060

Personal Debt per Citizen: $56,867

The underlying figures show that the U.S. and Citizens are more indebted now than they have ever been in history.

Data courtesy of Kim Eisberg, independent financial economist, Palm Beach, Florida



[farmaholic]

Probably irreparable...

[Hamloc]

Here are some economic debt figures that may help put the overall U.S. debt picture in perspective.
One major shock event could now quickly tip-over this debt-mired applecart (IMO). 

U.S. National Debt: $20.37 trillion

U.S. GDP: $19.35 trillion

U.S. Federal Spending: $4 trillion

U.S. Federal Revenue: $3.32 trillion 

U.S. Federal Budget Deficit: $690 billion 

Private Credit Card Debt: $1.021 trillion

Private Student Loan Debt: $1.47 trillion

Private Mortgage Debt: $14.755 trillion

Total Private Personal Debt: $18.54 trillion

U.S. Total Debt: $67.92 trillion

U.S. Unfunded Liabilities: $107.78 trillion

Liabilities Per Taxpayer: $893,304

Savings per Family: $6,060

Personal Debt per Citizen: $56,867

The underlying figures show that the U.S. and Citizens are more indebted now than they have ever been in history.

Data courtesy of Kim Eisberg, independent financial economist, Palm Beach, Florida



Liability per taxpayer $893 304! Trumps slogan "Make America Great Again", I would say it is too late. What is the interest payed on government debt per year per taxpayer? Federal spending in the U.S. Is almost 21% of GDP(4 trillion of 19.35 trillion) what is it in Canada? Does this include State and Municipal debt?

[Rareearth]

Those are good numbers to see and be aware of. Just doesn't show the whole picture, “compared to what”?

There is more money in circulation than ever before, minimum wage has never been so high, stock market has never been this high, market cap, etc

Yes gov has debt, where they never used to.

I agree there will be a event of some kind.

[Hamloc]

I will answer my own question lol. Canadian GDP in 2016 $1.53 trillion USD. Canadian federal budget $247.30 billion USD($317 billion CAD) so 16.16% of GDP. In Canada my guess is provincial budgets are much higher per capita than State budgets in the U.S. Due to health care costs in Canada. So in the end I wonder which country's government spending is a bigger part of the economy?

[errolanderson]

U.S. unfunded liabilities $107 trillion . . . 'the pension bomb'

[dmlfarmer]

And yet the Republican Congress Tax savings bill introduced yesterday will add another 1.5 trillion over the next 10 years to the debt alone by cutting both personal and corporate taxes. This is over and above the current deficit budgets.

[biglentil]

Away from what collapse? Bitcoin? Gold? Chickens? Bug Out Shelter? Anyone have a rock I can hide under and a good gopher recipe?

[danny W1M]

Tax cuts will be a dangerous maneuver. There might be a small window where government tax receipts slip, before the economy will make up for the cuts. I suppose that is why they're making the move now, when there's plenty of confidence in the country. ie S&P, reducing EPA regulation, etc.

[ajl]

Total debt per capita in Canada is higher. We have less government debt than the US, but it gets much closer when provincial debt is added in. Some states like Illinois and California have lots of debt but others almost none. Canadians have higher personal debt as our real estate is more over priced than in most of the US. We are just starting on the housing correction in Canada. Our economy is also much less diverse than the US and really only consists of speculation and bureaucracy these days.

[danny W1M]

errol, have you been watching the VIC lately, no sign of it flattening, or bottoming out yet.

[errolanderson]

danny . . . as long as the VIX steady / down, U.S. stock markets will continue to surge to historic highs.
VIX Volatility index is a gauge of investor confidence / fear. One major event can change all this (IMO).

[danny W1M]

That was my point, No fear or concern from the industry. They'd own it, if there was.

[danny W1M]

Unemployment rate lowest since 2000.

[URL="https://www.wsj.com/articles/hiring-rebounds-in-october-unemployment-rate-falls-to-4-1-1509712307"]https://www.wsj.com/articles/hiring-rebounds-in-october-unemployment-rate-falls-to-4-1-1509712307[/URL]

[errolanderson]

Payrolls released at 261,000 this morning was actually quite disappointing, Some pre-estimates forecasting 350,000 to 400,000. U.S. labor workforce is now at a 40 year low around 61.5% participation.

Real unemployed numbers do not match gov't numbers (IMO). It depends on how you define unemployment in a shrinking workforce.